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    628 Units Akron, OH 44311

    For Sale
    $625,000

    Six-unit apartment building, strong cash flow.

    Property size:
    5,328 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional investment opportunity presents a well-maintained six-unit multi-family property located in the heart of downtown Akron, Ohio. The property comprises three duplexes totaling 5,328 square feet of finished residential space, featuring two 2-bedroom units, three 3-bedroom units, and one 4-bedroom unit. Situated on two adjacent lots with a combined frontage of 102 feet on Sumner Street and additional frontage on Thornton Street, the property offers ample space for off-street parking. The building boasts forced-air gas heating, central air conditioning, and public water and sewer services. Additional features include an unfinished basement and an asphalt/fiberglass roof. The property enjoys a desirable location, providing renters easy access to shopping, amenities, public transportation, Akron University, and major roadways like Route 8 and I-76. Current annual gross rent is $67,800, with this year's expenses (including management, maintenance, utilities, trash, lawn/snow care, and unit upgrades) totaling $22,291. Landlord expenses this year for property updates, marketing, and showing amounted to $52,976. This property is ideal for investors seeking a reliable income stream and potential for future growth in a thriving urban setting. The property's convenient location and strong rental history make it a compelling investment opportunity.

    Property Features for 628 Units

    General Information

    Property type
    Residential income properties
    Square Feet
    5,328 SF
    Lot Size
    10,890 SF

    Building Details

    Year Built
    1889
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Akron
    County
    Summit
    State
    Ohio
    Longitude
    -81.51505
    Latitude
    41.06601

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    FAQs

    What type of property is this?
    Residential income property - Six-unit apartment building, strong cash flow.
    Where is this residential income property located?
    The property is located at 628 Units Akron, OH.
    What is the asking price?
    The asking price for this property is $625,000.
    (330) 686-1644
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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
    628 Units Akron, OH 44311
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