Turnkey Duplex with Central
For Sale
$215,000
1933 Preston Ave, Akron, OH 44305
Renovated two-unit duplex with separate utilities, central air, and private parking lot.
Property Size1,440 SF
Price / SF$149.31
Days on Market96
Property Features for 1933 Preston Ave
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Goodyear Heights
Additional Details
Multifamily Units
2
Amenities
large balcony
private parking lot
Building Details
Year Built
1963
Listing Agency:
Keller Williams Citywide
Listed By:
Mark A Colucci · License #2020004747
(440) 590-5219
Source:
Kmlkrealty
Added: Jul 21
Changed: Oct 4
Last Checked: Oct 7 at 4:11PM
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
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Investment Insights
Based on property information with market context.
This turnkey duplex offers two renovated 2-bedroom, 1-bath units designed for straightforward rental living. Each unit has separate utilities and central air, supporting tenant comfort while helping keep operating expenses manageable. Additional features include a large balcony and a private parking lot.
The property is located on a quiet private dead-end street surrounded by residential homes in Akron, OH.
The seller also notes a potential package option for additional duplexes on the same lot: 1919-1921 Preston Ave., 1925-1927 Preston Ave., 1931-1933 Preston Ave., and 1937-1939 Preston Ave.
The property is located on a quiet private dead-end street surrounded by residential homes in Akron, OH.
The seller also notes a potential package option for additional duplexes on the same lot: 1919-1921 Preston Ave., 1925-1927 Preston Ave., 1931-1933 Preston Ave., and 1937-1939 Preston Ave.
Key Highlights
- Turnkey duplex built in 1963 featuring two renovated 2 bed / 1 bath units
- Two units have separate utilities
- Central air in 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.
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Lease Details
2
Residential units
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-unit duplex with separate utilities, central air, and private parking lot.
Where is this duplex located?
The property is located at 1933 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: Turnkey duplex built in 1963 featuring two renovated 2 bed / 1 bath units; Two units have separate utilities; Central air in each unit
