05/01/2026
Just Listed!
MLS # 5205946
2114 & 2116 Market Ave N is an outstanding opportunity to own a fully renovated and stabilized 10 Unit Apartment Complex in Canton. This is your chance to to own a turn key apartment complex that has undergone over $250K in renovations. This property features a desirable blend of (6) 2 Bedroom / 1 Bathroom Units and (4) 1 Bedroom / 1 Bathroom Units (Garden Units) covering about 9,000 square foot of living space. Every apartment has been upgraded with contemporary and sleek improvements. Additionally, all mechanicals have been updated. This property provides garage parking and extra storage for additional income.
The 4 Garden Units sit atop single car garages and the mechanical room featuring a new boiler. An additional 4 car garage is available for additional income or parking as well. With stable rental income, fully updated systems and modern interiors, this a scarce chance to own a low maintenance & income producing property. Located by historic Ridgewood and Colonial Heights plus near shopping and the express way. Please call to schedule a showing. *Gas & Electric are paid by the tenants with separate meters. Water/Sewer/Trash are paid by the Owner to All County Property Management. There is a boiler and separate hot water heaters for the 4 Garden Units. The 2 Bedroom Units EACH have Basements with Washer and Dryers.
Only 1 Vacant Unit to View.
** This is an in-place income property with documented operations and no deferred maintenance. The pro forma reflects current reality, not projections, so investors can stress-test it against their own assumptions and the math holds.
** The flow of the model is straightforward. Start with gross annual rent at $105,000. Back out 7.5% for vacancy and collection loss, which gets you to effective income of about $97,000. Then subtract operating expenses — taxes, insurance, repairs, and management — totaling about $27,400. What's left is NOI of roughly $69,800. Divide that by an 8.5% cap rate and you get the stabilized value of $820,000.
The 7.5% vacancy is intentionally conservative for the submarket. Most operators model 5%.
Repairs and maintenance look low at 4% of rent — that's because the property was fully renovated, so there's no deferred capex sitting under the surface. The rate sits in the middle of the range for Canton multifamily.
There's also a Year 2 projected value of about $857,000 in the model that assumes 3-4% rent growth. That's separate from the stabilized value — it's there to show forward potential, not to inflate the headline number.
The Top Tier Team
Christina Hoff 330-806-3616
Michael Walls 330-949-3472
Milena Hunt 330-327-4424
RE/MAX Edge Realty
