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3100 Beal St. NW Warren, OH 44485
1.15 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5189071
HOA Y/N No
Year Built 1974
Annual Tax Amount $6,769
Tax Year 2025
Lot Size 1.150 Acres
Acres 1.15
Property Sub-Type Apartment
Property Description
Beal St Apartments is a 24-unit garden-style multifamily asset built in 1974 in Warren, Ohio, offered at just $83,333 per door with a 9.49% cap rate on trailing-twelve actuals. The property is currently 96% occupied with only a single vacancy, and delivered $189,881 in T12 NOI on $230,968 in effective gross income. The T3 annualized numbers are even stronger: $200,529 in NOI, pushing the cap rate above 10%. At this basis, you are buying real, in-place income with room to run.
Current average rent sits at $809 per unit per month. The tenant mix is anchored by LG, which leases 14 of the 24 units, providing a reliable, institutional-backed income stream that adds stability to the cash flow profile. Total operating expenses came in at just $41,087 for the trailing twelve, and the only meaningful proforma adjustment is layering in professional management at 6% of EGI ($14,742 annually), since the current owner self-manages. Even fully loaded, EOY 1 proforma NOI holds firm at $189,871 and the 9.49% cap. This is a well-run building that does not need a turnaround to deliver returns.
The macro story unfolding in the Warren-Lordstown corridor is hard to ignore. Kimberly-Clark is deploying roughly $960 million into a new manufacturing plant and distribution center, bringing 491-600 jobs by end of 2026 with nearly $50 million in annual payroll. Ultium Cells operates a $2.3 billion battery plant in Lordstown with 1,700 employees. SoftBank is investing $3 billion to convert the former GM Lordstown Assembly into an AI manufacturing facility for the Stargate project. The state has committed $17.4 million in road infrastructure upgrades around the corridor. Billions in capital, thousands of new jobs, and a tight rental market all driving housing demand in a submarket where you can still buy at $83,333 a door.
Cash flow is here now, and the upside is being built around you in real time. Let's chat.
Current average rent sits at $809 per unit per month. The tenant mix is anchored by LG, which leases 14 of the 24 units, providing a reliable, institutional-backed income stream that adds stability to the cash flow profile. Total operating expenses came in at just $41,087 for the trailing twelve, and the only meaningful proforma adjustment is layering in professional management at 6% of EGI ($14,742 annually), since the current owner self-manages. Even fully loaded, EOY 1 proforma NOI holds firm at $189,871 and the 9.49% cap. This is a well-run building that does not need a turnaround to deliver returns.
The macro story unfolding in the Warren-Lordstown corridor is hard to ignore. Kimberly-Clark is deploying roughly $960 million into a new manufacturing plant and distribution center, bringing 491-600 jobs by end of 2026 with nearly $50 million in annual payroll. Ultium Cells operates a $2.3 billion battery plant in Lordstown with 1,700 employees. SoftBank is investing $3 billion to convert the former GM Lordstown Assembly into an AI manufacturing facility for the Stargate project. The state has committed $17.4 million in road infrastructure upgrades around the corridor. Billions in capital, thousands of new jobs, and a tight rental market all driving housing demand in a submarket where you can still buy at $83,333 a door.
Cash flow is here now, and the upside is being built around you in real time. Let's chat.
Location
State OH
County Trumbull
Rooms
Basement Concrete
Interior
Heating Gas
Cooling Central Air, Ceiling Fan(s), Window Unit(s)
Fireplace No
Exterior
Parking Features Additional Parking, Asphalt
Water Access Desc Public
Building
Foundation Basement
Sewer Public Sewer
Water Public
Schools
School District Warren Csd - 7820
Others
Tax ID 39-459332
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com, 216-870-8687