Four-Unit Apartment
For Sale
$289,000
1010 5th Avenue, Akron, OH 44306
Four residences each include a kitchen, full bath, and installed refrigerator and stove.
Property Size2,688 SF
Price / SF$107.51
Days on Market8
Property Features for 1010 5th Avenue
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Residential Income
Site & Location
Neighborhood
East Akron
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,495
Building Details
Building Size
2,688 SF
Year Built
1917
Buildings
1
Listing Agency:
Russell Real Estate Services
Listed By:
Jesse R Kracht · License #2010001088
(440) 212-5656
Source:
Coccarealestate
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 23 at 3:12PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,688-square-foot, four-unit residential property was built in 1917. Each unit has a kitchen with appliances, a full bathroom, and carpet and tile flooring. Refrigerators and stoves are installed in all four units, and two separate entrances serve the building.
Recent property updates include a newer roof, newer windows, and an updated water heater. The parcel occupies a corner at 5th Avenue and Whitney in Akron.
Recent property updates include a newer roof, newer windows, and an updated water heater. The parcel occupies a corner at 5th Avenue and Whitney in Akron.
Key Highlights
- Four units, each with a kitchen, appliances, and full bath
- 2,688 square feet; built in 1917
- Newer roof and windows, plus an updated water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,616
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences each include a kitchen, full bath, and installed refrigerator and stove.
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 units, each with a kitchen, appliances, and full bath; 2,688 square feet; built in 1917; Newer roof and windows, plus an updated water heater
