Downtown Apartment Buildings With Commercial
For Sale
Contact for pricing
Pending
243 E Main St., Alliance, OH 44601
Three stabilized apartment buildings totaling 43 residential units and four commercial units, with key fob access, elevators, and coin laundry income.
Property SizeContact for details
Days on Market314
Property Features for 243 E Main St.
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Multifamily Units
43
Building Details
Year Built
1910
Units
47
Listing Agency:
Kiko
Listed By:
Richard T. Kiko Jr · License #OH
(330) 453-9187
Source:
Crexi
Added: Oct 27, 2025
Changed: Aug 8
Last Checked: Jul 24 at 11:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kiko
Investment Insights
Based on property information with market context.
This portfolio includes three historic downtown apartment buildings totaling 43 residential units and four commercial units, offered separately or together. At 243 E. Main St. (built 1928), the property has 22 residential apartments with 20 currently rented and two vacant, plus approximately 4,722 sq. ft. of main-level vacant commercial space divided into two units that both need rehab. Units feature open-style layouts and high ceilings, with elevator service and security key fob access. Each building also offers coin-operated laundry with income via third-party owned and serviced equipment, and landlord-owned refrigerators and stoves; tenants pay electric while the landlord pays gas, water, and trash. Each unit has separate heat and A/C, and each building has an unfinished basement with potential to finish.
At 245 E. Main St. (built 1910), there are seven residential efficiency apartments, all rented, and approximately 4,950 sq. ft. of main-level commercial space leased through March 2027. At 500 E. Main St. (built 1913), there are 14 residential apartments with 13 rented and one vacant needing unit turn, and the main level and basement level commercial space is leased by the City of Alliance for $1 per year, with the city paying its own utilities.
Recent capital expenditures include multiple apartment rehabs and HVAC updates across the portfolio, including new A/C units and furnaces, plus roof work at 500 E. Main St. Rear parking is available at 500 E. Main St., with a small number of spaces and area for a dumpster. The buildings are presented close to the University of Mount Union.
At 245 E. Main St. (built 1910), there are seven residential efficiency apartments, all rented, and approximately 4,950 sq. ft. of main-level commercial space leased through March 2027. At 500 E. Main St. (built 1913), there are 14 residential apartments with 13 rented and one vacant needing unit turn, and the main level and basement level commercial space is leased by the City of Alliance for $1 per year, with the city paying its own utilities.
Recent capital expenditures include multiple apartment rehabs and HVAC updates across the portfolio, including new A/C units and furnaces, plus roof work at 500 E. Main St. Rear parking is available at 500 E. Main St., with a small number of spaces and area for a dumpster. The buildings are presented close to the University of Mount Union.
Key Highlights
- Three stabilized downtown apartment buildings with 43 total residential units: 41 rented and 2 vacant.
- Includes 4 commercial units plus main‑level commercial space at 243 E. Main St. and 245 E. Main St., and city‑leased commercial/basement space at 500 E. Main St.
- Security key fob access and elevators in the buildings, plus coin‑operated laundry with owner revenue share from third‑party service.
Property Analytics
Property Profile
Current Use
Lease Details
43
Residential units
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
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Business Placement
Demographics for 44601, OH
33,688
Population
14,532
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
82.0 sq mi
ZIP Area
411
Density / Sq Mi
$61,887
Median Household Income
$33,773
Median Earnings
$803
Median Rent
$142,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Three stabilized apartment buildings totaling 43 residential units and four commercial units, with key fob access, elevators, and coin laundry income.
Where is this apartment building located?
The property is located at 243 E Main St. Alliance, OH.
What are key features of this property?
This property features: Three stabilized downtown apartment buildings with 43 total residential units: 41 rented and 2 vacant.; Includes 4 commercial units plus main‑level commercial space at 243 E. Main St. and 245 E. Main St., and city‑leased commercial/basement space at 500 E. Main St.; Security key fob access and elevators in the buildings, plus coin‑operated laundry with owner revenue share from third‑party service.
