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    298 Torrey St Akron, OH 44304

    Pending
    For Sale
    $1,400,000

    MULTI_FAMILY - Akron, OH

    Lot size:
    0.06 Acres
    Days on Market:
    20
    Last Refresh:
    Dec 7 at 4:06 am

    Property Features for 298 Torrey St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Bedroom 9, Bathroom 9, Bedroom 3, Bedroom 4, Bedroom 8, Bathroom 4, Bedroom 2, Bedroom 5, Bathroom 7, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 2, Bedroom 6, Bathroom 8, Basement, Bedroom 1, Bedroom 7, Bathroom 6
    Bedrooms
    9
    Bathrooms
    9
    APN
    6829146
    Parking features
    Driveway
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1894
    Floors in Building
    2
    Building materials
    AluminumSiding, VinylSiding, WoodSiding
    Roof type
    Asphalt

    Chervenic Realty Inc (330) 686-1644 [email protected]

    Listing agent Justin T Aikens (330) 388-2637 License #2012000353

    Listing date Nov 18, 2025

    MLS# 5152591 Listing URL

    Copyright © 2025 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.

    Overview

    Akron Multifamily Investment Opportunity

    This portfolio presents a significant investment opportunity near the University of Akron. The package includes ten properties: one four-unit building with two bedrooms and one bathroom in each unit, four duplexes, and five single-family homes, all situated on Torrey Street, one block from E. Exchange and a short walk to the center of campus. All properties feature new roofs installed in 2020, vinyl windows, updated electrical systems (without knob and tube wiring), updated plumbing (without galvanized pipes), newer flooring, and light fixtures. The properties have recently been leased for the 2025-2026 school year, with all leases expiring at the end of July 2026. The combined properties offer 49 bedrooms and 21 bathrooms. The annual gross rent is $207,240. Landlord-paid utilities amount to $49,368 annually, insurance costs $10,632, and property taxes are $20,568, resulting in a net operating income (NOI) of $126,672, representing a 9% cap rate. Opportunities exist to increase value by leasing additional bedrooms, transitioning to Section 8 tenants, and modifying utility payment arrangements in future leasing cycles. The lot size is 0.0606 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Law Firm Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.513176
    Latitude
    41.071505

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    FAQs

    What type of property is this?
    Apartment building - Portfolio of ten properties near University of Akron.
    Where is this apartment building located?
    The property is located at 298 Torrey St Akron, OH.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Prime location near University of Akron campus - just a 5-minute walk to the center of campus.; - Substantial income potential with a 9% Cap Rate and $126,672 Net Operating Income (NOI).; - Package of 10 properties offering diverse investment opportunities.
    (330) 388-2637
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    298 Torrey St Akron, OH 44304
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