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    242 W Highland Ave Ravenna, OH 44266

    For Sale
    $250,000

    MULTI_FAMILY - Ravenna, OH

    Property size:
    2,571 SF
    Lot size:
    0.28 Acres
    Days on Market:
    18
    Last Refresh:
    Dec 6 at 4:06 pm

    Property Features for 242 W Highland Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 3, Basement, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 2
    Bedrooms
    5
    Bathrooms
    3
    APN
    31-360-03-00-092-000
    Parking features
    Garage, Off Street, Parking Lot
    Size
    2,571 SF
    Lot size
    0.28 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    2
    Building materials
    WoodSiding
    Roof type
    Asphalt

    Stouffer Realty Inc (330) 835-4900 [email protected]

    Listing agent Jennifer M Filipczak-Turner (330) 554-6507 License #2008002967

    Listing date Nov 19, 2025

    MLS# 5163600 Listing URL

    Copyright © 2025 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Ravenna Triplex: Investment Opportunity

    This fully occupied triplex in Ravenna, Ohio, presents an investment opportunity. The property features three units: one 3-bedroom apartment and two 1-bedroom apartments. Each unit includes spacious rooms and storage. The property has a large off-street parking lot accessed from Springfield Avenue. Public utilities are in place. The owner is responsible for water, sewer, and trash, while tenants cover gas and electric. The triplex generates $2,400 per month in gross income. It is located near downtown amenities, shopping, and major routes. The property size is 2,571 square feet, situated on a 0.2849-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ravenna
    County
    Portage
    State
    Ohio
    Longitude
    -81.244868
    Latitude
    41.160583

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    FAQs

    What type of property is this?
    Triplex - Fully occupied Ravenna triplex generating $2,400 monthly gross income.
    Where is this triplex located?
    The property is located at 242 W Highland Ave Ravenna, OH.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Fully occupied triplex generating $2,400/month gross income.; - Three well-maintained units: **one 3-bedroom and two 1-bedroom apartments.**; - **Large off-street parking lot.**
    (330) 554-6507
    Request Owner's contact information
    242 W Highland Ave Ravenna, OH 44266
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    Ravenna, OH 44266
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    242 W Highland Ave Ravenna, OH 44266
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