Address
243 -245 E Main Street, Alliance, OH
Price
$ 680,000
Property Attributes
  • MLS#5016852
  • TypeCommercial
  • CountySTARK
  • CityAlliance
  • Zip44601
  • Style
  • Year Built1928
  • Taxes$ 1980
  • Price$ 680,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size5,131 SqFt
Data Source:
MLSNow
Property Description

Highly visible downtown 29 unit apartment complex within 2 parcels in the heart of Alliance. Property management office is first floor tenant. This building, known as the Wallace Building is being offered as a bulk sale with the Bank Building, (additional 14 units) located at 500 E. Main St. down the street from the subject property. Broker is the managing member of the partnership ownership. SELLER MAY CONSIDER SEPERATING THE TWO PROPERTIES FOR A SALE, AT SELLER'S OPTION ONLY. These buildings, with 43 apartment units, were part of a larger low income housing tax credit portfolio, the seller owned. The properties were 100% updated and modernized at LIHTC inception approx. 23 years ago. All maintenance has been kept up over the years. The common area commercial hot water tanks were recently replaced. All exterior sidewalk ramp and retaining wall was replaced at the Bank Building. Tenant units have been repaired and updated at tenant vacating each time. Seller has received authorization from OHFA to remove these properties from all rent restrictions as of this August 2024! Because of this, buyer can immediately charge higher rents to any new incoming tenants. Wallace Building has 3 retail storefront spaces to lease for additional revenue.

Price History
2/12/2024 Listed $680,000

General Features

Sewer PublicSewer
Heating ForcedAir,Gas,Other
Cooling Other
Possession DeliveryOfDeed
Roof Rubber
Year Built 1928
Township Alliance
Property SubType Retail
Current Use Commercial,MultiFamily,Retail
Business Type RealEstate
Additional Parcels Description 00107579
County Stark
New Construction No
Property Type CommercialSale
HOA / Comm Assn No
Attached Garage No
Garage Y/N No
Status Active
Directions Union Ave. headed north to Main Street. Right on to Main St. to addresses. 500 E. Main is on the left and 243 / 245 is 2 blocks before,on the right.
City Alliance
Disclosures OwnerIsListingAgent
View Y/N No
Senior Community Y/N No
High School District Alliance CSD - 7601
Total Units 23
Waterfront Y/N No
Carport Y/N No
Street Name Main
Property Attached Y/N No
Land Lease Y/N No
Tax Annual Amount 1980.0
Home Warranty Y/N No
Lease Renewal Y/N No
Additional Parcels Y/N No
Lease Considered Y/N No
Rent Control Y/N No
Days on Market 1
Building Area Units SquareFeet
Standard Status Active
Occupancy Description Tenant
Middle/Junior School District Alliance CSD - 7601
Elementary School District Alliance CSD - 7601
Property Sub Type Additional Apartment
MobileHomeRemainsYN No

Interior Features

Basement CommonBasement
Total Stories 6
Basement (Y/N) Yes
Air Conditioning Y/N No
Heating Y/N Yes
Fireplace Y/N No
Street Suffix Street
Electric On Property Y/N No
Living Area Units SquareFeet

Exterior Features

Parking Features Common,OnSite,OnStreet
Water Source Public
Lot Size Area 0.1178
Spa No
Building Area Total 35742.0
Lot Size Acres 0.1178
Lot Size Units Acres
Lot Size Source PublicRecords
Crops Included Y/N No
Open Parking Y/N No
Horse Y/N No
Irrigation Water Rights Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 44601

Price
AVG $1.36M
$680K
Taxes
AVG $7,167
$1,980
Visits
AVG 56
10
Data Provided by Inside Real Estate®
Year Built
AVG 1942
1928

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