Renovated Two-Unit
For Sale
$215,000
1927 Preston Ave, Akron, OH 44305
Separate utilities, central air, and private parking support efficient residential operation.
Property Size1,440 SF
Price / SF$149.31
Days on Market68
Property Features for 1927 Preston Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$28,800
Amenities
large balcony
central air
Building Details
Year Built
1963
Tenancy
Multi
Listing Agency:
Keller Williams Citywide
Listed By:
Mark A Colucci · License #2020004747
(440) 590-5219
Source:
Groganzeiger
Added: Aug 1
Changed: Oct 1
Last Checked: Oct 5 at 8:45PM
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 Keller Williams Citywide
Investment Insights
Based on property information with market context.
This renovated duplex contains 1,440 square feet arranged as two 2 bed / 1 bath residences. Each unit has its own central air system and separate utilities, providing distinct operating arrangements within the property. A large balcony adds outdoor space, while the private parking lot offers on-site parking for residents.
Built in 1963, the property sits on a private dead-end street bordered by residential homes. The surrounding residential setting and two-unit configuration provide a straightforward layout for multifamily ownership, with both residences contained within one building.
Built in 1963, the property sits on a private dead-end street bordered by residential homes. The surrounding residential setting and two-unit configuration provide a straightforward layout for multifamily ownership, with both residences contained within one building.
Key Highlights
- Two 2 bed / 1 bath units within a 1,440‑square‑foot duplex
- Renovated multifamily property built in 1963
- Separate utilities and central air serving each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,187
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,740
$263.7K
Cap Rate 7%
$188,386
$188.4K
Cap Rate 9%
$146,522
$146.5K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$19.9K $13.80/SF
− Vacancy
−$1.0K −$0.72/SF
EGI
$18.8K $13.08/SF
− OpEx
−$5.7K −$3.92/SF
NOI
$13.2K $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%
$263,740
Cap Rate 7%
$188,386
Cap Rate 9%
$146,522
Alternative Uses
Best Use
Multifamily LT 5
$188.4K
$164.8K – $219.8K
NOI $13,187 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$164.9K
$144.3K – $192.4K
NOI $11,545 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$353.4K
$309.2K – $412.3K
NOI $24,737 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
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Business Placement
Demographics for 44305, OH
21,214
Population
10,230
Households
2.1
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
3,166
Density / Sq Mi
$55,909
Median Household Income
$37,409
Median Earnings
$974
Median Rent
$89,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities, central air, and private parking support efficient residential operation.
Where is this duplex located?
The property is located at 1927 Preston Ave Akron, OH.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two 2 bed / 1 bath units within a 1,440‑square‑foot duplex; Renovated multifamily property built in 1963; Separate utilities and central air serving each unit
