Don’t miss this incredible chance to own a fully occupied four-unit investment in a peaceful, sought-after area of Tallmadge, sitting on an expansive nearly two acres of land! Spanning two parcels, the property includes a charming 1 bed, 1 bath house and a nice triplex on one adjacent to another that is vacant land. Currently bringing in over $36,000 in annual rent, there's even more potential to increase revenue when you raise rents at lease renewals. The 1 bed 1 bath house is rented for $625 on an annual lease expiring 11/30/2024, unit 1 at the triplex is a 2 bed 1 bath and is rented for $965 on an annual lease expiring 11/29/2025, unit 2 is a 1 bed 1 bath rented for $555 on a month to month lease, unit 3 is a studio and rented for $670 per month on an annual lease expiring 11/30/2025. With a cap rate of over 9% based on the asking price and current financials, this is a true gem for investors. The owner self-manages and bills back water, gas, and electric, for the house and covers all utilities for the triplex for tenants convenience. Well cared for over the years, it has recent updates like a new water heater (2024), plus a 10-year-old roof, 5-year-old furnace, and 10-year-old central air. This is a rare opportunity with strong cash flow and plenty of upside!
Tallmadge is located in Ohio. Tallmadge, Ohio has a population of 18,409. Tallmadge is more family-centric than the surrounding county with 28.45% of the households containing married families with children. The county average for households married with children is 26.83%.
The median household income in Tallmadge, Ohio is $79,233. The median household income for the surrounding county is $63,111 compared to the national median of $69,021. The median age of people living in Tallmadge is 46.2 years.
The average high temperature in July is 82.5 degrees, with an average low temperature in January of 20.3 degrees. The average rainfall is approximately 38.4 inches per year, with 42.2 inches of snow per year.
