399 N Thomas Road Tallmadge, OH 44278
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!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountySummit
- Taxes$3,519
- HOA/Condo/Coop Fees$0
- Days on Site20 Days
- MLS StatusPending
- MLS ID Number5068624
- Home Size Source Owner
- Year Built1948
- Lot Size1.6345 Acres
- Full Baths4
- Partial BathsN/A
Sell your house quickly!
Get multiple potential cash offers for your home. Fast and hassle-free!
Learn MoreRecent Activity For 399 N Thomas Road Tallmadge, OH 44278
an hour ago | |
an hour ago | |
6 days ago | |
2 weeks ago | |
3 weeks ago |
Don't miss a thing!
Get updates on new activity for this listing
General Features
- Construction Brick
- Parking DrivewayOn SitePaved
- Sewer Public Sewer
- Basement Full
- Number of Stories Three Or More
- Acreage 1.6345
- Water Public
- Property Sub Type Quadruplex
- Attached Garage No
- Listing Conditions Standard
Interior Features
- Cooling Central Air
- Heating Forced AirGas
Exterior Features
- Roof AsphaltFiberglassShingle
- Waterfront Property No
Community Features
- Township Tallmadge