411 Bank St 5 Unit Apartment Building $544,365 CAD ($108,873 CAD/Unit) 9.01% Cap Rate Lodi, OH 44254

This multifamily property presents an opportunity to acquire a five-unit complex located in the heart of Lodi, Ohio, within the Cloverleaf Local School District. The configuration includes three one-bedroom units of 300 SF each, one two-bedroom unit of approximately 588 SF, and one efficiency unit of about 300 SF. All apartments feature kitchens equipped with essential appliances, and each unit is separately metered for electric and gas. City water and sewer services are also independently metered, with individual hot water tanks per unit, making the property easier to manage and accountable for tenant utilities. Cooling is provided by tenant-owned window A/C units, while the landlord handles sewer, water, and trash services, as well as exterior upkeep.
This offering includes the potential for adjacent parcel acquisition, which features a retail/office shell building of approximately 1,072 SF and an 800 SF three-stall garage, suitable for income diversification or redevelopment. With zoning classified as Multi-Use in the Village of Lodi, this property benefits from flexible zoning allowances catering to residential and certain commercial uses. Importantly, it is located within a federally designated Opportunity Zone, providing potential tax incentives for qualified investors. The property sits just off State Route 83, less than two miles from I-71, providing convenient regional access to cities like Medina and Ashland while maintaining a small-town residential appeal.