158-Unit Apartment
For Sale
$11,980,000
143 Durling Drive, Wadsworth, OH 44281
Scattered-site apartment portfolio with varied housing formats, garage spaces, laundry equipment, and current vacancies.
Property Size124,000 SF
Days on Market50
Property Features for 143 Durling Drive
General Information
Standard status
Active
Size
124,000 SF
Property subtype
Apartment
Units
Unit Mix
86 x 2bd, 65 x 1bd, 6 x 3bd, 1 x studio
Multifamily Units
158
Additional Details
Gross Income
$1,378,404
Taxes and HOA fees
Annual Taxes
$151,408
Building Details
Building Size
124,000 SF
Year Built
1950
Buildings
41
Listing Agency:
Berkshire Hathaway HomeServices Stouffer Realty
Listed By:
Lisa M Schmitt · License #2004022536
(330) 606-9934
Source:
Asacoxhomes
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 26 at 12:42PM
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 Berkshire Hathaway HomeServices Stouffer Realty
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Investment Insights
Based on property information with market context.
This scattered-site apartment portfolio comprises 158 rental units distributed across 41 roofs, along with three vacant lots. The holdings include a 42-unit building, a 22-unit community, 16-unit and 12-unit buildings, a 9-unit community, a 7-unit block, seven single-family homes, one quintuplex, three quadplexes, and 13 duplexes or twinplexes. The portfolio also includes a private island peninsula, garage spaces, and coin-operated laundry machines.
Properties are located throughout the greater Akron area and extend into Wadsworth, Ohio. The unit mix includes 86 two-bedroom units, 65 one-bedroom units, six three-bedroom units, and one studio. Four vacancies are currently reported. The properties were built in 1950, and additional parcel numbers are associated with the portfolio.
Properties are located throughout the greater Akron area and extend into Wadsworth, Ohio. The unit mix includes 86 two-bedroom units, 65 one-bedroom units, six three-bedroom units, and one studio. Four vacancies are currently reported. The properties were built in 1950, and additional parcel numbers are associated with the portfolio.
Key Highlights
- 158 rental units across 41 roofs, plus 3 vacant lots
- Unit mix includes 86 2bd, 65 1bd, 6 3bd, and 1 studio
- Portfolio includes 42‑unit, 22‑unit, 16‑unit, and 12‑unit buildings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$979,461
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,589,220
$19.6M
Cap Rate 7%
$13,992,300
$14.0M
Cap Rate 9%
$10,882,900
$10.9M
Market Conditions
NOI Build-Up for 124,000 SF
Gross rent
$1.90M $15.36/SF
− Vacancy
−$123.8K −$1.00/SF
EGI
$1.78M $14.36/SF
− OpEx
−$801.4K −$6.46/SF
NOI
$979.5K $7.90/SF
Area
Medina County, OH
Vacancy
6.50%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,589,220
Cap Rate 7%
$13,992,300
Cap Rate 9%
$10,882,900
Alternative Uses
Best Use
Multifamily LT 5
$16.06M
$14.05M – $18.73M
NOI $1,123,933 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$13.99M
$12.24M – $16.32M
NOI $979,461 @ 7.0% cap · market cap 8.18%
Theoretical Best
Specialty Retail
$34.59M
$30.26M – $40.35M
NOI $2,421,106 @ 7.0% cap · market cap 20.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
158
Residential units
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
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Business Placement
Demographics for 44281, OH
33,241
Population
14,298
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
47.8 sq mi
ZIP Area
695
Density / Sq Mi
$88,128
Median Household Income
$46,653
Median Earnings
$1,031
Median Rent
$262,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Scattered-site apartment portfolio with varied housing formats, garage spaces, laundry equipment, and current vacancies.
Where is this apartment building located?
The property is located at 143 Durling Drive Wadsworth, OH.
What is the asking price?
The asking price for this property is $11,980,000.
What are key features of this property?
This property features: 158 rental units across 41 roofs, plus 3 vacant lots; Unit mix includes 86 2bd, 65 1bd, 6 3bd, and 1 studio; Portfolio includes 42‑unit, 22‑unit, 16‑unit, and 12‑unit buildings
