Apartment Building with Private
New
For Sale
$850,000
1261-1275 Jacoby Rd, Akron, OH 44321
Eight residential units feature two-bedroom layouts, individual laundry hookups, and patio or balcony space.
Property Size6,760 SF
Price / SF$125.74
Days on Market2
Property Features for 1261-1275 Jacoby Rd
General Information
Standard status
Active
Size
6,760 SF
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Additional Details
Highway Access
Yes
Amenities
in-unit laundry hookup
air
patio/balcony
private garage
Building Details
Year Built
1984
Listing Agency:
Wadsworth Real Estate Inc.
Listed By:
Kebra R Wilson-Hahn · License #437389
(330) 335-2505
Source:
Kmlkrealty
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:42AM
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 Wadsworth Real Estate Inc.
Investment Insights
Based on property information with market context.
The 6,760-square-foot apartment property contains eight units, each arranged with two bedrooms and one bathroom. Unit features include laundry hookups, air, patio or balcony space, and a private garage. Updates have been completed across the units, including a full renovation in one apartment. Detached garage buildings and 12 additional parking spaces serve tenants and guests. Residents pay their own electric and gas costs.
The property is within the Copley-Fairlawn School District and a short drive from Akron and Fairlawn. Highway access, restaurants, and shopping are also nearby. Built in 1984, the building combines private garage parking with additional on-site parking and outdoor space for each unit.
The property is within the Copley-Fairlawn School District and a short drive from Akron and Fairlawn. Highway access, restaurants, and shopping are also nearby. Built in 1984, the building combines private garage parking with additional on-site parking and outdoor space for each unit.
Key Highlights
- Eight units, each with two bedrooms and one bathroom
- 6,760 square feet; built in 1984
- Laundry hookups and patio or balcony space in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,196
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,083,920
$1.1M
Cap Rate 7%
$774,229
$774.2K
Cap Rate 9%
$602,178
$602.2K
Market Conditions
NOI Build-Up for 6,760 SF
Gross rent
$103.8K $15.36/SF
− Vacancy
−$5.3K −$0.78/SF
EGI
$98.5K $14.58/SF
− OpEx
−$44.3K −$6.56/SF
NOI
$54.2K $8.02/SF
Area
Akron, OH
Vacancy
5.10%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,083,920
Cap Rate 7%
$774,229
Cap Rate 9%
$602,178
Alternative Uses
Best Use
Apartment 5plus
$774.2K
$677.5K – $903.3K
NOI $54,196 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,127 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 44321, OH
15,993
Population
6,597
Households
2.4
Avg Household Size
40
Median Age
60%
College-Educated
98%
High-School Grad
14.6 sq mi
ZIP Area
1,095
Density / Sq Mi
$119,282
Median Household Income
$66,933
Median Earnings
$1,423
Median Rent
$320,400
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?
Apartment building - Eight residential units feature two-bedroom layouts, individual laundry hookups, and patio or balcony space.
Where is this apartment building located?
The property is located at 1261-1275 Jacoby Rd Akron, OH.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Eight units, each with two bedrooms and one bathroom; 6,760 square feet; built in 1984; Laundry hookups and patio or balcony space in each unit
