399 N Thomas RD Active Save Request In-Person Tour Request Virtual Tour
Tallmadge,OH 44278
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,576 sqft
Price per Sqft $130
MLS Listing ID 5134444
Bedrooms 5
Full Baths 4
Year Built 1948
Annual Tax Amount $3,519
Tax Year 2023
Lot Size 0.964 Acres
Property Sub-Type Quadruplex
Property Description
4-unit investment property, gross projected rent over $40,000 in a peaceful, highly sought-after area of Tallmadge. The two home property is situated on 1.6 acres; featuring a 1 bed / 1 bath house and a triplex.
At full occupancy, this property is an amazing ash-flowing investment with room to grow.
The rental breakdown includes a 1 bed, 1 bath house rented for $625/month; a 2 bed, 1 bath unit in the triplex potential rent at $1200/month; a studio renting for $650/month; and a 1 bed, 1 bath unit that is rented $965. All tenants are on month-to-month leases, allowing flexibility for adjustments or rent increases. With the final unit leased and rents brought up to market value, there's significant upside potential.
The owner self-manages and bills back water, gas, and electric for the house, while covering all utilities for the triplex for tenant convenience. The property has been well maintained, with recent updates including a new water heater installed in 2024, two brand new roofs, and a five-year-old furnace. This is a rare opportunity in a quiet, desirable location with strong projected income and long-term investment potential.
Location
State OH
County Summit
Interior
Heating Forced Air,Gas
Cooling Wall/Window Unit(s)
Laundry Gas Dryer Hookup
Exterior
Parking Features Additional Parking,Driveway,Parking Lot
Roof Type Asphalt,Fiberglass
Building
Sewer Public Sewer
Water Public
Schools
School District Tallmadge Csd - 7715
Others
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange