Occupied Three-Unit
For Sale
$230,000
2375 Sanitarium Road, Lakemore, OH 44312
ResidentialIncome, Lakemore, OH
Property Size2,292 SF
Lot Size0.24 Acres
Price / SF$100.35
Days on Market32
Property Features for 2375 Sanitarium Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Laundry Room, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 1
Parking features
Paved or Surfaced, Garage
Subdivision
Tract 6
Lot features
Corner Lot
Elementary school district
Springfield LSD Summit- 7713
Middle school district
Springfield LSD Summit- 7713
High school district
Springfield LSD Summit- 7713
Directions
Ackers to Sanitarium
Standard status
Active
APN
5400412
Size
2,292 SF
Lot size
0.24 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Year
2025
Tax Description
TR 6 LOT 4 N OF SANATORIUM RD & W OFMARTHA AVE
Tax Annual Amount
2040
Legal Description
TR 6 LOT 4 N OF SANATORIUM RD & W OFMARTHA AVE
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Steam, Hot Water(Heating)
Water source
Public
Building Details
Year built
1969
Floors in Building
1
Building materials
Brick, VinylSiding
Roof type
Asphalt, Fiberglass
Listing Agency:
Keller Williams Living · Keller Williams Realty
(440) 318-1620
Listed By:
Michael L Magno · License #2016003542
(216) 236-8849
Added: Oct 2
Changed: Oct 23
Last Checked: Nov 2 at 8:06AM
MLS# 5249146
Copyright © 2026 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.
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Investment Insights
Based on property information with market context.
This 2,292-square-foot triplex contains three occupied apartments on a 0.2443-acre lot. The building dates to 1969 and has older interior finishes; updating and turnover work may be needed as units become vacant. A central boiler serves the property. Tenants pay electric, while ownership is responsible for gas, water, sewer and trash.
The roof was replaced in 2006, the boiler in 2007, and the windows and siding in 2010. The property has a garage and paved parking, along with public water and sewer service. It is near local schools and Lakemore Recreation Park.
The roof was replaced in 2006, the boiler in 2007, and the windows and siding in 2010. The property has a garage and paved parking, along with public water and sewer service. It is near local schools and Lakemore Recreation Park.
Key Highlights
- Three occupied rental units
- 2,292 square feet on a 0.2443‑acre lot
- Roof replaced in 2006; boiler replaced in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,989
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,780
$419.8K
Cap Rate 7%
$299,843
$299.8K
Cap Rate 9%
$233,211
$233.2K
Market Conditions
NOI Build-Up for 2,292 SF
Gross rent
$31.6K $13.80/SF
− Vacancy
−$1.6K −$0.72/SF
EGI
$30.0K $13.08/SF
− OpEx
−$9.0K −$3.92/SF
NOI
$21.0K $9.16/SF
Area
Summit County, OH
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,780
Cap Rate 7%
$299,843
Cap Rate 9%
$233,211
Alternative Uses
Best Use
Multifamily LT 5
$299.8K
$262.4K – $349.8K
NOI $20,989 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$262.5K
$229.7K – $306.3K
NOI $18,375 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$562.5K
$492.2K – $656.2K
NOI $39,373 @ 7.0% cap · market cap 17.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 44312, OH
30,510
Population
14,299
Households
2.1
Avg Household Size
44
Median Age
19%
College-Educated
92%
High-School Grad
19.0 sq mi
ZIP Area
1,606
Density / Sq Mi
$64,542
Median Household Income
$41,829
Median Earnings
$994
Median Rent
$142,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments share a central boiler, with tenants paying electric and ownership covering gas, water, sewer and trash.
Where is this triplex located?
The property is located at 2375 Sanitarium Road Lakemore, OH.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Three occupied rental units; 2,292 square feet on a 0.2443‑acre lot; Roof replaced in 2006; boiler replaced in 2007
