Two-Home Multifamily
For Sale
$135,000
1664 Woods Rd, Akron, OH 44306
Two residences share a wooded parcel and require cleanup and rehabilitation before occupancy.
Property Size1,253 SF
Price / SF$107.74
Days on Market105
Property Features for 1664 Woods Rd
General Information
Standard status
Active
Size
1,253 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Each home needs cleaned out and rehabed
Site & Location
Neighborhood
Ellet
Highway Access
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1923
Listing Agency:
RE/MAX Crossroads Properties
Listed By:
Jessica Nader · License #2019004118
(330) 209-2008
Source:
Theacclaimedrealty
Added: Jul 14
Changed: Oct 25
Last Checked: Oct 7 at 3:03PM
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 RE/MAX Crossroads Properties
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Investment Insights
Based on property information with market context.
This multifamily property includes two separate homes on a wooded, almost one-acre parcel. The residence at 1660 offers two bedrooms and one full bath, while 1664 provides one bedroom and one bath. The property was built in 1923 and both homes require cleanout and rehabilitation.
Highway access is nearby, and the property is located at 1664 Woods Rd in Akron, Ohio. Contents inside and around the homes remain the owner's responsibility.
Highway access is nearby, and the property is located at 1664 Woods Rd in Akron, Ohio. Contents inside and around the homes remain the owner's responsibility.
Key Highlights
- Two homes on a wooded, almost one‑acre lot
- 1660 includes 2 bedrooms and 1 full bath
- 1664 includes 1 bedroom and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,045
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$200,900
$200.9K
Cap Rate 7%
$143,500
$143.5K
Cap Rate 9%
$111,611
$111.6K
Market Conditions
NOI Build-Up for 1,253 SF
Gross rent
$19.2K $15.36/SF
− Vacancy
−$982 −$0.78/SF
EGI
$18.3K $14.58/SF
− OpEx
−$8.2K −$6.56/SF
NOI
$10.0K $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%
$200,900
Cap Rate 7%
$143,500
Cap Rate 9%
$111,611
Alternative Uses
Best Use
Apartment 5plus
$143.5K
$125.6K – $167.4K
NOI $10,045 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$307.5K
$269.1K – $358.8K
NOI $21,525 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
153
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences share a wooded parcel and require cleanup and rehabilitation before occupancy.
Where is this multifamily property located?
The property is located at 1664 Woods Rd Akron, OH.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Two homes on a wooded, almost one‑acre lot; 1660 includes 2 bedrooms and 1 full bath; 1664 includes 1 bedroom and 1 bath
