488 N Jay is a fully occupied four-unit building offered together with the adjacent 490 N Jay as an eight-unit package. The buildings are being sold as one transaction and will not be divided. All four units are leased, producing $3,700 per month / $44,400 annually in gross scheduled rent. Combined with 490 N Jay, the package produces $85,800 annually with a net operating income of $73,920 on current actuals. Owner-paid expenses across both buildings total $11,880 and are limited to insurance, taxes, landscaping, lawn treatment, trash, and repairs. Tenants pay all utilities except trash, which is served by a shared dumpster covering both properties. Expense figures do not include vacancy, management, capital reserves, or debt service. Unit 3 has been renovated and leases at $1,100 per month. The remaining units here rent at $850 and $900, giving a buyer an in-building comparable for the renovated rent level rather than a market assumption. Leases across both buildings expire on a staggered basis between August and October 2026. Please do not disturb tenants. Showings by appointment with proper notice to residents. Full rent roll, leases, and expense documentation available to qualified buyers on request. Buyer and buyer's agent to verify all information, including income and expenses, square footage, zoning and permitted use, unit count, registration or licensing requirements, and property condition. Any reference to potential rent levels is illustrative only and is not a projection of future performance; rent adjustments are subject to existing lease terms, required notice, and applicable law. Information obtained from sources deemed reliable but not guaranteed by broker or seller.
Details
MLS #
225022141
Listing Type
For Sale
Sub-Type
Resale
Status
Active
Year
1963
Days On Site
450
Listing Provided By
Roby Realty | Andrew C Wade
Features
Units
4
Acreage
0.29
Taxes
Property
1385
Area Information
State
OH
County
Miami
City
West Milton
Zip Code
45383
School District
MILTON UNION EVSD 5505 MIA CO.
High School
MILTON UNION EVSD 5505 MIA CO.
Sourced by Back At You
MLS Number: 225022141
Andrew C Wade – (614) 419-2668 – andrew@robyrealty.com
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by Columbus Realtors
MLS Number: 225022141
Andrew C Wade – (614) 419-2668 – andrew@robyrealty.com
