Three-Unit Multifamily
For Sale
$275,000
318 N Pardee St, Wadsworth, OH 44281
Multifamily building with varied unit layouts, shared laundry, and dedicated off-street parking near downtown Wadsworth.
Property Size2,124 SF
Price / SF$129.47
Days on Market51
Property Features for 318 N Pardee St
General Information
Standard status
Active
Size
2,124 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Units
Unit Mix
1 x studio, 1 x 1BR, 1 x 2BR
Multifamily Units
3
Amenities
shared laundry
Building Details
Year Built
1900
Listing Agency:
Ohio Broker Direct
Listed By:
Joan Elflein · License #386319
(614) 989-7215
Source:
Kmlkrealty
Added: Aug 26
Changed: Oct 7
Last Checked: Oct 7 at 3:43PM
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 Ohio Broker Direct
Investment Insights
Based on property information with market context.
This 2,124-square-foot multifamily property contains three self-contained residential units: a studio, a one-bedroom apartment, and a two-bedroom apartment. Each unit includes a private full bathroom. Shared laundry facilities are located in the basement, and the property provides six dedicated off-street parking spaces. Built in 1900, the building offers an established residential configuration for an owner-user or multifamily investor.
The property is located at 318 N Pardee St in Wadsworth, Ohio, in Medina County. It is minutes from downtown Wadsworth, with restaurants, shopping, professional services, entertainment, local parks, and the Wadsworth Community Center nearby. Cleveland and Akron are approximately 30 minutes away, providing access to both metropolitan areas while retaining a smaller-community setting.
The property is located at 318 N Pardee St in Wadsworth, Ohio, in Medina County. It is minutes from downtown Wadsworth, with restaurants, shopping, professional services, entertainment, local parks, and the Wadsworth Community Center nearby. Cleveland and Akron are approximately 30 minutes away, providing access to both metropolitan areas while retaining a smaller-community setting.
Key Highlights
- Three self‑contained residential units totaling 2,124 square feet
- Unit mix includes a studio, one‑bedroom, and two‑bedroom apartment
- Private full bathroom in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,252
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,040
$385.0K
Cap Rate 7%
$275,029
$275.0K
Cap Rate 9%
$213,911
$213.9K
Market Conditions
NOI Build-Up for 2,124 SF
Gross rent
$29.3K $13.80/SF
− Vacancy
−$1.8K −$0.85/SF
EGI
$27.5K $12.95/SF
− OpEx
−$8.3K −$3.88/SF
NOI
$19.3K $9.06/SF
Area
Medina County, OH
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,040
Cap Rate 7%
$275,029
Cap Rate 9%
$213,911
Alternative Uses
Best Use
Multifamily LT 5
$275.0K
$240.7K – $320.9K
NOI $19,252 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$239.7K
$209.7K – $279.6K
NOI $16,777 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$592.4K
$518.4K – $691.2K
NOI $41,471 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
Explore this area
Business Placement
Demographics for 44281, OH
33,241
Population
14,298
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
47.8 sq mi
ZIP Area
695
Density / Sq Mi
$88,128
Median Household Income
$46,653
Median Earnings
$1,031
Median Rent
$262,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily building with varied unit layouts, shared laundry, and dedicated off-street parking near downtown Wadsworth.
Where is this triplex located?
The property is located at 318 N Pardee St Wadsworth, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three self‑contained residential units totaling 2,124 square feet; Unit mix includes a studio, one‑bedroom, and two‑bedroom apartment; Private full bathroom in each unit
