Lincoln Square Apartments
Auction #1: 52-Unit Apartment Complex
Auction #2: 35-Unit Storage Facility
Zoned R3 Residential

Exciting Investment Opportunity
Lincoln Square Apartments
Auction #1: 52-Unit Apartment Complex On 3.12 Acres
Auction #2: 35-Unit Storage Facility On .63 Acres
Zoned R3 Residential
Adjacent To Hartville Memorial Park & Lake Elementary School
Stark County, Lake Schools, Hartville Village
Live Auction With Online Bidding Available

Auction #1: Very nice and well cared for 52-unit apartment complex located next door to a 10-acre community park with walking trails and playground. Lake Elementary School is located within walking distance right across the street. Ideal location close to town and everything that Hartville has to offer. There are (8) buildings total, (6) 6-unit buildings and (2) 8-unit buildings all built in 1973 with asphalt parking. All units are two bedroom and have separate gas furnace, A/C, hot water tank, laundry hook up and are 1,074 sq. ft. with no deferred maintenance. Major improvements have been made in the last 10 years including windows, doors, cabinets, countertops, trim, furnaces, A/C units, shingles, paint and flooring. Property is 100% occupied with many long-term tenants. Tenants pay gas and electric, owner pays water well maintenance, sewer, trash and snow removal. Great income property with rents grossing $621,348 per year. This property from 2013 to 2020 was financed by the HUD 236F Multi Family Loan Program. There are 52 Stark County parcel #s for Auction #1, #2300733 through 2300784. All sell as one unit. Every unit is a separate parcel number, meaning these have the potential to be converted to condominiums, in which each unit could be sold off separately.

Auction #2: Stark County parcel #2300787. Jefferson St. NW – 35-unit storage unit/facility built in 2020. Situated on .63 acre, this mason block building is 42’x225’ and is 9,450 sq. ft. There are (29) 11.5’ x 20’ units, (4) 11.5’ x 16’ units and (2) 10’ x 20’ units. Currently zoned R3 Residential, not zoned for commercial storage use. Great income producing property with a gross annual income potential of $46,920. Seller pays electric, approx. $80 per month. Each unit features concrete floors, block construction, internal electric and external security lights.

Auctioneers Note: Auction #1 and #2 will not be offered together, buy one or both. Please respect the tenant’s privacy. Many units will be open auction day only starting at 10:00 AM. Call Jeff Kiko with any questions on how to buy.

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 Separate Parcels and not to be offered as an Entirety.

Lincoln Square Apartments, LLC