Turnkey Triplex with Private
For Sale
$199,900
543 Kling Street, Akron, OH 44311
Three-unit property offered with a second triplex and dedicated parking parcel near the University of Akron.
Property Size1,952 SF
Days on Market49
Property Features for 543 Kling Street
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Residential Income
Financials
Asking Price
$399,800
Gross Income
$54,000
Additional Details
Road Access
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$2,302
Amenities
private parking
Building Details
Building Size
1,952 SF
Year Built
1911
Buildings
1
Stories
3
Listing Agency:
Keller Williams Chervenic Rlty
(330) 338-9047
Listed By:
Jodi L Mignano · License #2005004349
(330) 338-9047
Source:
Carolgoffrealestate
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 25 at 9:11AM
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 Keller Williams Chervenic Rlty
Investment Insights
Based on property information with market context.
This 1,952-square-foot triplex at 543 Kling St. is offered as part of a combined acquisition with the triplex at 539 Kling Street. The package also includes an adjoining parcel behind the buildings that provides private parking. Tenants are responsible for all utilities, and the properties are being offered as a turnkey investment package.
The buildings are positioned near the University of Akron, the Zip Strip, restaurants, and other campus conveniences. The location is within short walking distance of the university and supports a student-oriented rental setting. The sale requirement includes both triplexes and the associated parking parcel, creating a multi-building residential income property with dedicated parking.
The buildings are positioned near the University of Akron, the Zip Strip, restaurants, and other campus conveniences. The location is within short walking distance of the university and supports a student-oriented rental setting. The sale requirement includes both triplexes and the associated parking parcel, creating a multi-building residential income property with dedicated parking.
Key Highlights
- Two triplexes offered together at 543 Kling Street and 539 Kling Street
- 1,952‑square‑foot triplex at 543 Kling St.
- Additional parcel behind both properties provides private parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,876
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,520
$357.5K
Cap Rate 7%
$255,371
$255.4K
Cap Rate 9%
$198,622
$198.6K
Market Conditions
NOI Build-Up for 1,952 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.9K $13.80/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$25.5K $13.08/SF
− OpEx
−$7.7K −$3.92/SF
NOI
$17.9K $9.16/SF
Area
Akron, 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,520
Cap Rate 7%
$255,371
Cap Rate 9%
$198,622
Alternative Uses
Best Use
Multifamily LT 5
$255.4K
$223.5K – $297.9K
NOI $17,876 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$223.6K
$195.6K – $260.8K
NOI $15,649 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$479.0K
$419.2K – $558.9K
NOI $33,533 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
Explore this area
Business Placement
Demographics for 44311, OH
6,993
Population
3,400
Households
2.1
Avg Household Size
28
Median Age
10%
College-Educated
79%
High-School Grad
1.9 sq mi
ZIP Area
3,681
Density / Sq Mi
$23,857
Median Household Income
$14,953
Median Earnings
$790
Median Rent
$64,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property offered with a second triplex and dedicated parking parcel near the University of Akron.
Where is this triplex located?
The property is located at 543 Kling Street Akron, OH.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two triplexes offered together at 543 Kling Street and 539 Kling Street; 1,952‑square‑foot triplex at 543 Kling St.; Additional parcel behind both properties provides private parking
