399 N Thomas Road, Tallmadge OH 44278

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$203,500

399 N Thomas Road, Tallmadge, OH 44278

bedrooms

bathrooms

square feet

1,588

Acreage

1.6345

Open Houses

year built

1948

Full Baths

Half Baths

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Don’t miss this incredible chance to own a 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 $30,000 in annual rent, with one unit vacant and being remodeled, there is a lot of potential to increase revenue when you lease the final unit and raise rents. The 1 bed 1 bath house is rented for $625 per month, unit 1 at the triplex is a 2 bed 1 bath and is rented for $965 per month, unit 2 is a 1 bed 1 bath that is currently being remodeled and unit 3 is a studio and rented for $670 per month. All tenants are on month to month leases. With a proforma cap rate of over 9.4% based on the asking price, 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 that include a new water heater (2024), 2 brand new roofs just installed and a 5-year-old furnace. This is a rare opportunity with strong cash flow and plenty of upside!

Location
Subdivision	-
County	Summit
Elementary School	-
Middle School	-
High School	-

Driving directions

Open houses

None scheduled.

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MLS number: 5068624

Listing agent: Tal Tamir #2018001908

Listing broker: Russell Real Estate Services (440) 268-9491

Last update: Monday, January 20 2025 at 4:26 p.m. EST

Kotohomes National