Stewart Circle Apartments – 18 Units Fully Occupied

Investment Highlights:

• 18-Unit, 3-Building Multifamily Portfolio: Three 6-unit brick apartment buildings totaling 20,352 SF on 1.52 acres in Warren, Ohio.
• Fully Occupied with $161,124 Gross Annual Rent: 100% occupancy across all 18 units generating $13,427 in monthly rental income.
• In-Place NOI of $98,916 : Reflecting strong income performance and operational stability.
• Below-Market Rents Signal Immediate Upside: Current rents average $746/month against a stabilized market, offering a clear path to increased cash flow.
• Extensively Renovated:  New roofs, HVAC upgrades, unit renovations, and carport improvements.
• Each Unit Has Private Carport and Storage Locker: Rare amenity package with individually assigned covered parking and storage enhances retention and tenant quality.

Offering Summary:

RealINSIGHT Marketplace, in partnership with Landmark Auction Services, is pleased to present Stewart Circle Apartments, a fully occupied 18-unit multifamily portfolio located at 1500-1525 Stewart Circle in Warren, Ohio. The offering comprises three 6-unit brick apartment buildings totaling 20,352 SF on 1.52 acres, with each unit featuring private carport parking, a dedicated storage locker, and fenced backyard access. The portfolio generates $161,124 in annual rent plus $2,500 in laundry income, producing an estimated in-place NOI of $116,552 against $47,072 in total operating expenses. The majority of units are supported by Section 8 and Coleman program vouchers, providing stable, government-backed income. Current rents are below market, presenting an investor with a clear value-add opportunity to increase cash flow through lease renewals at market rates. The property has undergone substantial capital investment, including complete roof tear-offs and replacement, HVAC and hot water upgrades, renovated unit interiors, and carport structural improvements. Warren serves as the Trumbull County seat, 55 miles southeast of Cleveland, with a diversified employment base anchored by healthcare, manufacturing, and public-sector employers including Thomas Steel (220+ employees) adjacent to the site.

Location:

Stewart Circle Apartments sits off Parkman Road NW (20,121 CPD) in a stable Warren residential neighborhood, less than one mile from Downtown Warren, the Trumbull County seat and regional employment hub. Thomas Steel Inc. (220+ employees) is immediately adjacent. Retail amenities including ALDI, Dollar Tree, Rural King, and Subway are within a half mile, with McDonald's and Dairy Queen close by.

Location Stats:

$116,552: Estimated in-place annual NOI
100%: Occupancy across all 18 units
62,959: Population within 5-mile radius