This 15-unit apartment building in Dennison, Ohio produced $93,053 in trailing gross income and $64,083 in net operating income before management, with the real property included in the asking price.

The building has generated remarkably consistent income across three years of owner-prepared financials: $94,795 annualized across 2023 and 2024, and $93,053 in 2025. That is a variance of under two percent over three years. Eleven of fifteen units are currently occupied at an average rent of $711 per month. All utilities are tenant-paid, which keeps the ownership expense base unusually light: common-area electric ran $331 and water $1,011 for the entire 2025 year.

The clearest upside is occupancy, and the path to it is unusually cheap. Four units are vacant. One is rent-ready today. The remaining three need flooring only, with no structural work, no mechanical work, and no gut renovation. Leasing all four at the in-place average rent would add roughly $34,100 in annual gross income and lift net operating income to approximately $72,800. For a buyer, that is a straightforward lease-up funded by flooring rather than a capital project.

Real property is included in the asking price. There is no ground lease, no land lease, and no lease renewal risk. The building sits on the main commercial street of its village, a twelve-minute walk from the local hospital and roughly seven miles from Kent State University's Tuscarawas campus. Nearly half of the housing stock in this market was built before 1940, so the building's vintage is consistent with local comparables rather than a discount to them.

This is a small-market, tertiary-location asset and should be underwritten as such. The village population is approximately 2,650 and has declined slowly over the past two decades. Median gross rent locally is $812 with utilities included, so in-place rents of $650 to $850 with tenant-paid utilities sit at or modestly above market. The return here comes from documented, collectible cash flow and a cheap lease-up path, not from rent growth or appreciation.

There is no on-site staff and no payroll anywhere on the financials. The current owner self-manages. That makes this a genuinely low-touch hold for an investor who either continues that approach or engages local third-party management.

The owner will provide the full unit-by-unit rent roll, three years of profit and loss statements, and available property records to a qualified buyer under NDA.

Contact us today to learn more about this opportunity and request additional information.