Tallmadge OH Multi Family for Sale
- Type:
- Fourplex
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 5
- Lot size:
- 1.63 Acres
- Year built:
- 1948
- Baths:
- 4.00
- MLS#:
- 5068624
ADDITIONAL INFORMATION
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, a 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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Tallmadge Real Estate
The median home value in Tallmadge, OH is $233,000. This is higher than the county median home value of $179,200. The national median home value is $338,100. The average price of homes sold in Tallmadge, OH is $233,000. Approximately 79.45% of Tallmadge homes are owned, compared to 17.69% rented, while 2.86% are vacant. Tallmadge real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Tallmadge real estate agent to arrange a tour today!
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.
Tallmadge Weather
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.