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1605 S Water St 18 Unit Apartment Building For Sale Kent, OH 44240
EXECUTIVE SUMMARY
18-Unit Apartment Building Recently Updated
Near Kent State University, Portage County, OH
(4) 2-Bedroom & (14) 1-Bedroom Units, Public Utilities
Live Auction With Online Bidding Available
Absolute auction, all sells to the highest bidder on location: 1605 S. Water Street, Kent, OH 44240. Directions: Property is located just north of SR 261 on S. Water Street.
Monday, November 17, 2025, 12:30 PM
Real Estate offers a tastefully updated and remodeled 18-unit apartment building. There are (4) 2-bedroom units and (14) 1-bedroom units. Each unit offers living room, kitchen with appliances and full bathroom. Additional features include paved parking, gas hot water heat, public utilities, and laundry facility with coin operated machines. Updates include roof in 2023, boilers in 2024, electric panels in 2024, exterior stain in 2025, and a majority of the units were updated in 2024/2025. Owner pays heat, water, sewer and trash. Taxes per half year are $4,575. Property is walking distance to Kent State University, shopping and restaurants. Combined monthly rent as of August 2025 is $16,110.
Terms On Real Estate: 10% down auction day, balance due at closing. A 10% buyer’s premium will be added to the highest bid to establish the purchase price. Any desired inspections must be made prior to bidding. All information contained herein was derived from sources believed to be correct. Information is believed to be accurate but not guaranteed.
Auctioneer/Realtor: Randy L. Compton, CES, CAI, AARE, 330.704.5702 or rcompton@kikocompany.com and Richard T. Kiko Jr., 330.455.9357, or dkiko@kikocompany.com.
Near Kent State University, Portage County, OH
(4) 2-Bedroom & (14) 1-Bedroom Units, Public Utilities
Live Auction With Online Bidding Available
Absolute auction, all sells to the highest bidder on location: 1605 S. Water Street, Kent, OH 44240. Directions: Property is located just north of SR 261 on S. Water Street.
Monday, November 17, 2025, 12:30 PM
Real Estate offers a tastefully updated and remodeled 18-unit apartment building. There are (4) 2-bedroom units and (14) 1-bedroom units. Each unit offers living room, kitchen with appliances and full bathroom. Additional features include paved parking, gas hot water heat, public utilities, and laundry facility with coin operated machines. Updates include roof in 2023, boilers in 2024, electric panels in 2024, exterior stain in 2025, and a majority of the units were updated in 2024/2025. Owner pays heat, water, sewer and trash. Taxes per half year are $4,575. Property is walking distance to Kent State University, shopping and restaurants. Combined monthly rent as of August 2025 is $16,110.
Terms On Real Estate: 10% down auction day, balance due at closing. A 10% buyer’s premium will be added to the highest bid to establish the purchase price. Any desired inspections must be made prior to bidding. All information contained herein was derived from sources believed to be correct. Information is believed to be accurate but not guaranteed.
Auctioneer/Realtor: Randy L. Compton, CES, CAI, AARE, 330.704.5702 or rcompton@kikocompany.com and Richard T. Kiko Jr., 330.455.9357, or dkiko@kikocompany.com.
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 0.33 AC |
| No. Units | 18 | Building Size | 14,379 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1963 |
| Apartment Style | Low-Rise | Parking Ratio | 0.83/1,000 SF |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 14,379 SF |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 0.83/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 18 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 17-006-20-00-044-000 | Improvements Assessment | $126,350 |
| Land Assessment | $28,350 | Total Assessment | $154,700 |
PROPERTY TAXES
Parcel Number
17-006-20-00-044-000
Land Assessment
$28,350
Improvements Assessment
$126,350
Total Assessment
$154,700
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1605 S Water St
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