27-Unit Apartment Complex | New Concord, OH | KIKO Auctions and Auctioneers
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27-Unit Apartment Complex

Thursday, June 27, 2024 - 12:30 PM   -   Real Estate Sells at: 12:30 PM
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Attention Investors
27-Unit Apartment Complex
3 Buildings On 5 Acres
Potential Gross Income $300,000
Union Twp., Muskingum County, East Muskingum LSD
Live Auction With Online Bidding Available On Real Estate
Sells on location.
175 Friendship Dr., New Concord, OH 43762
Directions: From I-70, take exit 169 (US-83) towards New Concord, OH and turn right in one mile to auction. Watch for KIKO signs.
online auction link

Real Estate: Exciting opportunity! 3 building apartment complexes on 5 acres. Great income potential. Sellers have owned for 23 years and are ready to retire. Many long-term tenants, currently 100% occupied with a waitlist. All buildings 2-story brick with outside entry and paved parking lot.

Buildings consist of:
  • 175 Friendship Dr. (West Bldg.): 11 total units. (4) 2-story townhouses with 2 bedrooms and one and a half baths. (6) two-bedroom, one-bathroom apartments. Lower-level features coin-laundry/utility room and one bed, one bath apartment.
  • 175 Friendship Dr. (East Bldg.): 8 total units all featuring 2 bedrooms, 1 bath, large living room, dining area and galley kitchen. Lower-level features utility room with loads of storage space.
  • 12 Friendship Dr. (South Bldg.): 8 total units all featuring 2 bedrooms, 1 bath, dine-in kitchen and large living room. Lower-level includes coin-op laundry and maintenance room.

All tenants MTM. Townhouses rent for $840, two-bedroom units rent for $740, making gross rents over $240,000 per year with room to grow. Owner pays water/sewer, trash and cable. Tenants pay electric, all units have separate meters. This property is a cash cow with much to offer! Muskingum parcel #66270622000, #66270620000, #66270623000. Half year taxes are $8,385.
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Real Estate Terms
10% down auction day, balance due at closing. A 10% buyer’s premium will be added to the highest bid to establish the purchase price. Any desired inspections must be made prior to bidding. All information contained herein was derived from sources believed to be correct. Information is believed to be accurate but not guaranteed. Property to be sold as an Entirety and not to be offered in separate parcels.
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Auction Team
Peter R. Kiko
Peter R. Kiko,
330-455-9357 ext 128
Kristen Kiko
Kristen Kiko,
Jacob Whitacre
Jacob Whitacre,
330-453-9187 ext 184
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