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Home For Sale

$203,500

399 N Thomas Rd
Tallmadge, Ohio, United States

5bd 4ba

Listed By: Realtyww Info

Listed On: 09/12/2024

Listing ID: GL11214772 View More Details

Description

Dont 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 on one and a nice triplex on the other. 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 $960 on an annual lease expiring 11/29/2025, unit 2 is a 1 bed 1 bath rented for $530 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, covering all utilities for 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! Can be purchased with 339 Hillwood Dr / Parcel: 6703366 and 150 S Portage Path / Parcel: 6828453.

For more details:

Listed by: Tal Tamir
Source: The World Property Journal

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