Updated 4-Unit
For Sale
$289,000
1010 5th Avenue, Akron, OH 44306
ResidentialIncome, Akron, OH
Property Size2,688 SF
Lot Size0.11 Acres
Price / SF$107.51
Days on Market37
Property Features for 1010 5th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 8, Bedroom 3, Bedroom 9, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Laundry Room, Basement, Bedroom 7, Bedroom 6, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 5
Parking features
Off Street, Garage
Appliances
Range, Refrigerator
Subdivision
Colonial Homes
Lot features
Rolling Slope, Few Trees
Elementary school district
Akron CSD - 7701
Middle school district
Akron CSD - 7701
High school district
Akron CSD - 7701
Directions
From I-77, take the Arlington Road exit and head North/South toward 5th Ave. Turn onto 5th Ave and continue to the intersection with Whitney Ave- property is on the corner.
Standard status
Active
APN
6843331
Size
2,688 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COL HOMES LOT 206 ALL WHITNEY
Tax Annual Amount
2495
Legal Description
COL HOMES LOT 206 ALL WHITNEY
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1917
Floors in Building
3
Building materials
AluminumSiding, Block, Frame
Roof type
Asphalt
Listing Agency:
Russell Real Estate Services
(440) 572-3100
Listed By:
Jesse R Kracht · License #2010001088
(440) 212-5656
Added: Jul 31
Changed: Sep 1
Last Checked: Sep 5 at 3:06AM
MLS# 5231671
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,688-square-foot quadplex contains four residential units, each equipped with a kitchen, range, refrigerator, and full bath. Carpet and tile flooring are used throughout the interiors, while two separate entrances support a divided access arrangement. The property was built in 1917 and includes a basement, laundry room, garage, and off-street parking.
Recent property work includes a newer roof, newer windows, an updated water heater, and replacement ranges and refrigerators across all four units. The 0.1116-acre parcel occupies the corner of 5th Avenue and Whitney in Akron, with public water and public sewer service. Construction includes aluminum siding, block, and frame components, with forced-air natural gas heating and an asphalt roof.
Recent property work includes a newer roof, newer windows, an updated water heater, and replacement ranges and refrigerators across all four units. The 0.1116-acre parcel occupies the corner of 5th Avenue and Whitney in Akron, with public water and public sewer service. Construction includes aluminum siding, block, and frame components, with forced-air natural gas heating and an asphalt roof.
Key Highlights
- Four‑unit residential property with 2,688 square feet
- Each unit includes a kitchen, range, refrigerator, and full bath
- Newer roof, newer windows, and updated water heater
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,616
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,320
$492.3K
Cap Rate 7%
$351,657
$351.7K
Cap Rate 9%
$273,511
$273.5K
Market Conditions
NOI Build-Up for 2,688 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.1K $13.80/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$35.2K $13.08/SF
− OpEx
−$10.5K −$3.92/SF
NOI
$24.6K $9.16/SF
Area
Akron, OH
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,320
Cap Rate 7%
$351,657
Cap Rate 9%
$273,511
Alternative Uses
Best Use
Multifamily LT 5
$351.7K
$307.7K – $410.3K
NOI $24,616 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$307.9K
$269.4K – $359.2K
NOI $21,550 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$659.7K
$577.2K – $769.6K
NOI $46,176 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Explore this area
Business Placement
Demographics for 44306, OH
21,085
Population
10,424
Households
2
Avg Household Size
34
Median Age
9%
College-Educated
86%
High-School Grad
8.3 sq mi
ZIP Area
2,540
Density / Sq Mi
$41,105
Median Household Income
$30,481
Median Earnings
$901
Median Rent
$77,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units with private kitchens, full baths, appliances, separate entries, and recent building improvements.
Where is this quadplex located?
The property is located at 1010 5th Avenue Akron, OH.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Four‑unit residential property with 2,688 square feet; Each unit includes a kitchen, range, refrigerator, and full bath; Newer roof, newer windows, and updated water heater
