399 N Thomas Road, Tallmadge, OH 44278 - Summit County

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!

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