Four-Unit Corner
For Sale
$289,000
1010 5th Ave, Akron, OH 44306
Updated four-unit property with individual kitchens, full baths, appliances, and two separate entrances.
Property Size2,688 SF
Price / SF$107.51
Days on Market10
Property Features for 1010 5th Ave
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Residential Income
Additional Details
Road Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,495
Listing Agency:
Russell Real Estate Services
(440) 212-5656
Listed By:
Jesse R Kracht · License #2010001088
(440) 212-5656
Source:
Exprealty
Added: Jul 31
Changed: Aug 7
Last Checked: Aug 8 at 7:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Russell Real Estate Services
Investment Insights
Based on property information with market context.
This 2,688-square-foot quadplex contains four residential units, each with its own kitchen, appliances, full bath, and a combination of carpet and tile flooring. Improvements include a newer roof, newer windows, an updated water heater, and a refrigerator and stove in each unit. Two separate entrances add functional separation within the building.
The property occupies a corner lot at 1010 5th Ave in Akron, Ohio, with access from 5th Avenue and Whitney. Its four-unit configuration and existing apartment improvements provide a clearly defined multifamily layout.
The property occupies a corner lot at 1010 5th Ave in Akron, Ohio, with access from 5th Avenue and Whitney. Its four-unit configuration and existing apartment improvements provide a clearly defined multifamily layout.
Key Highlights
- 2,688‑square‑foot four‑unit quadplex
- Corner lot at 5th Avenue and Whitney
- Each unit includes a kitchen, appliances, and full bath
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
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
334
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 - Updated four-unit property with individual kitchens, full baths, appliances, and two separate entrances.
Where is this quadplex located?
The property is located at 1010 5th Ave 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: 2,688‑square‑foot four‑unit quadplex; Corner lot at 5th Avenue and Whitney; Each unit includes a kitchen, appliances, and full bath
