Updated Nov 3, 2025
Colarusso Properties LLC Acquires Multifamily Property In Paulding From Covington Properties LLC For $2.9M
1001 West Wayne Street
$2,900,000
Units
48
Asset Type
MultiFamily
Closing
Oct 31, 2025
About this deal
AI
The sale involved a multifamily property located at 1001 West Wayne Street in Paulding, Ohio. The transaction was completed on October 31, 2025, with a sale price of $2,900,000 for the property, which includes 48 units. The price per unit was recorded at $60,417.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Units: 48
- Price Per Unit: $60,417
- Buyer: Colarusso Properties LLC
- Seller: Covington Properties LLC
- Brokers: Teddy Kenny, Aaron Kuroiwa & Austin Meeker - Marcus & Millichap
Marcus & Millichap brokered the sale of Whispering Pines, which also comprises 67 self-storage units. Teddy Kenny, Aaron Kuroiwa, and Austin Meeker acted as the representatives for Covington Properties LLC in this transaction, successfully securing the buyer, Colarusso Properties LLC.
On the Map
$2,900,000
MultiFamily
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Players
Paulding MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93