EMBASSY & DIPLOMAT APARTMENTS
1718 Market Ave. N (Embassy)
205 19th St. NE (Diplomat)
Canton, OH 44714
List Price: $5,595,000
102 Units | 1965 Year Built
Investment Highlights:
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.
Location Highlights:
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.
Embassy-Diplomat Offering Documents
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CHARLES HART REAL ESTATE MULTIFAMILY GROUP
HOME OPPORTUNITIES CLOSED TRANSACTIONS ABOUT ADVANTAGE CONTACT
Confidentiality and disclaimer agreement: The information contained in the following is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Charles Hart Real Estate LLC and should not be made available to any other person or entity without written consent of Charles Hart Real Estate LLC. Marketing Brochures have been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in a given subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Charles Hart Real Estate LLC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the Presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in a Marketing Brochure has been obtained from sources we believe to be reliable, however, Charles Hart Real Estate LLC has not verified, and will not verify, any of the information contained herein, nor has Charles Hart Real Estate LLC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Listing disclaimer: Charles Hart Real Estate LLC is not affiliated with, sponsored by, or endorsed by any commercial tenant or lease identified in this marketing brochure. The presence of any corporation logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by said corporation and Charles Hart Real Estate LLC or any of its agents and is solely included for the purpose of providing information about a listing to prospective customers.
