3066 Shadycrest Dr Colerain Twp OH 45239

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3066 Shadycrest Dr

Colerain Twp, OH 45239

Suburb: Colerain TwpWest

$1,350,000

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3066 Shadycrest Drive is a twenty-two unit garden style complex constructed of all brick. The roof is pitched shingle and was replaced in the last 5 years.The property has a total of 10,298 square feet or approximately 450 square feet per unit. The project is comprised of twenty-two 1 bedroom / 1 bath units. Recent capital improvements include roof, new boiler, new hot water tank, new parking lot. Each unit is heated by the gas boiler and air is provided by wall a/c units. Tenants have separate electric panel.Tenants pay for electric and owner pays heat, water, and trash. Private parking lot with enough space for 22 cars. The lot is blacktopped and was recently repaved and striped. The property has a common area laundry room, washer and dryer is seller owned. The most appealing quality about this property is that it is located on a quiet cul-de-sac street lined with well trimmed homes. The property is in the Northwest school district, close to the busline and major retailers.

Directions

Colerain Ave North to right on Shadycrest.

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Property Details

General Information

Property Type	Multi Family
Style	Apartment 5+ Units
Suburb	Colerain TwpWest
Zip Code	45239
School District	Northwest SD - Hamilton County
MLS#	1823992

Additional Information

Levels	3 Story
Construction	Brick
Total Acres	0.428
Gas	Natural
Water	Public
Sewer	Public
Foundation	Poured
Occupancy	Tenant Right
Semi-Annual Taxes	$14,200.00

Property Features

Basement	Full
Garage	None
Cars	0
Parking	Lot, Private
Windows	Vinyl
Heating	Gas
Cooling	Wall Unit
Fireplace	None

Additional Features

Other Features	Coin Laundry

Multi-Family Information

Total Units	22
Gross Income	$174,180.00
1 Bedroom Units	22
Parking Spaces	22
Heat Paid	Owner
Separate Gas & Electric	Yes
Separate Furnace/AC	No

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If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)

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