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18 5th St NE 5 Unit Apartment Building $215,000 ($43,000/Unit) 13.48% Cap Rate Massillon, OH 44646



Executive Summary
Five-unit apartment building located at 18 5th St NE in Massillon offering approximately 3,203 square feet. Current gross rents total $2,415 per month with one unit vacant, equating to $28,980 in annualized gross income at current occupancy. Rent breakdown as follows: Unit 1 Rear – $650; Unit 1AA – $520; Unit 2 – $670; Unit 3 – $575. Tenants pay electric; owner pays water, sewer, trash, gas, and lawn care. Annual real estate taxes are $2,475.46. Electric is separately metered. Unit 3 is leased on a 12-month term through 2/28/27; the remaining occupied units are month-to-month. All units have been filled with new tenants since 2024. Units 3 and 4 have been recently renovated, and Units 1AA and 1 Rear were renovated in 2024. The building furnace was replaced in 2025 and the main plumbing stack was replaced in 2024, addressing major mechanical components. Property was built in 1901 and features on-street parking. Management is in place and willing to keep managing. Rent roll along with 2024, 2025, and year-to-date P&L statements are attached in supplements. Schedule your showing today!
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $215,000 | Building Class | C |
| Price Per Unit | $43,000 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 3,203 SF |
| Cap Rate | 13.48% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1901 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Single-Family Home |
| Price | $215,000 |
| Price Per Unit | $43,000 |
| Sale Type | Investment |
| Cap Rate | 13.48% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 3,203 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1901 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Refrigerator
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (83)
Property Taxes
| Parcel Number | 00605449 | Total Assessment | $45,050 |
| Land Assessment | $3,610 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $41,440 | Tax Year | 2025 |
Property Taxes
Parcel Number
00605449
Land Assessment
$3,610
Improvements Assessment
$41,440
Total Assessment
$45,050
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Presented by
Stewardship Realty Llc
18 5th St NE
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