2 Locations For Sale

For more information please visit our offering website at https://www.chmultifamily.com/listings-overview/embassydiplomat or contact Cam Seecamp at 614-271-8922

Charles Hart Multifamily Group is pleased to present the Embassy & Diplomat Apartments, a 102-unit multifamily portfolio located in Canton, Ohio. Positioned within walking distance of one another, these two communities offer operational efficiency and scale within a single, cohesive investment opportunity. Constructed in 1965, each property consists of a seven-story mid-rise building, with Embassy Apartments situated on 1.22 acres and Diplomat Apartments on 1.09 acres. The Embassy & Diplomat Apartments provide an excellent opportunity to acquire a well-located, stable asset with meaningful upside through bringing rents to market rate, unit renovations, and operational improvements.

The portfolio is comprised of a mix of studio, one-, and two-bedroom apartments, with unit sizes ranging from approximately 683 to 963 square feet. Each unit features functional layouts and includes a kitchen with an electric stove and refrigerator. Utilities are currently structured with tenants responsible for electricity, while ownership covers gas (Embassy only), water/sewer, and trash services. This structure presents a clear opportunity for a new owner to implement a utility reimbursement program, creating an additional revenue stream and

improving overall net operating income.

Both communities offer a range of amenities designed to enhance tenant experience and support long-term occupancy. Property features include secured entry access, elevators, on-site laundry facilities, community rooms, and ample surface parking at both properties, with the Diplomat Apartments also offering covered garage parking. Additional amenities include door-to-door trash service and a picnic area at the Diplomat, as well as a fitness center at the Embassy. These features contribute to strong tenant retention while providing a foundation for future enhancements.

The Embassy & Diplomat Apartments present a compelling value-add opportunity for investors to further enhance operations and capture rental upside. Current ownership has established a stable operating baseline, while in-place rents remain below market levels, resulting in approximately $90,000+ of loss-to-lease. Through strategic unit renovations and natural lease turnover, a new owner can close this gap and significantly increase revenue. Additional upside can be achieved through the implementation of a utility bill-back program, as many comparable properties in the area are charging tenants flat monthly fees for water ranging from $45 to $65, dependent on unit size.

The properties are ideally located in Canton, the county seat of Stark County, a region known for its affordability and strong renter population. Canton’s central location provides residents with convenient access to larger metropolitan areas including Akron and Cleveland. The area offers a diverse employment base, with major employers including Aultman Health, Cleveland Clinic Mercy Hospital, and Metallus, in addition to broader opportunities throughout the surrounding metro areas. The properties also sit just a few minutes from the NFL Hall of Fame that attracts hundreds of thousands of visitors annually as well as Gervasi Vineyard Resort & Spa. With a population of approximately 70,000 and a renter-heavy demographic, Canton continues to present a favorable environment for multifamily investment.