226 E Pace Ave, Akron, OH 44319

Building Details

Year Built 1913 More

Buildings 1 More

Listing Agency: Whipple Auction & Realty Inc

Listed By: Cheryl Feiock · License #2019003647 Show Phone

Source: Groganzeiger

Added: Aug 2 Changed: Nov 2 Last Checked: Nov 8 at 10:39AM

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Investment Insights

Based on property information with market context.

This multifamily property offers 2,159 square feet with three bedrooms, 2.5 bathrooms, and a layout that can accommodate multiple living arrangements. An extra-deep two-car garage provides substantial on-site storage and parking capacity. The home was built in 1913, with a new roof and furnace listed for 2026.

Views overlook East Reservoir in the Portage Lakes community, giving the property a clear connection to the surrounding lake setting. The address is 226 E Pace Ave in Akron, Ohio. Its residential configuration can support use as a full-time home, vacation property, or investment property, as described in the listing information.

Key Highlights

• Lakeview setting overlooking East Reservoir in Portage Lakes
• 2,159 square feet with 3 bedrooms and 2.5 bathrooms
• Multifamily layout with multiple living possibilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,309

Cap Rate

4.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$346,180 $346.2K

Cap Rate 7%

$247,271 $247.3K

Cap Rate 9%

$192,322 $192.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,159 SF

Gross rent

$33.2K $15.36/SF

− Vacancy

−$1.7K −$0.78/SF

EGI

$31.5K $14.58/SF

− OpEx

−$14.2K −$6.56/SF

NOI

$17.3K $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%

$346,180

Cap Rate 7%

$247,271

Cap Rate 9%

$192,322

Alternative Uses

Best Use

Apartment 5plus

$247.3K

$216.4K – $288.5K (±1% cap)

NOI $17,309 @ 7.0% cap · market cap 4.62%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$529.8K

$463.6K – $618.2K (±1% cap)

NOI $37,089 @ 7.0% cap · market cap 9.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

208

Businesses Nearby

Explore this area Business Placement

Demographics for 44319, OH

21,833

Population

9,950

Households

2.2

Avg Household Size

48

Median Age

30%

College-Educated

96%

High-School Grad

19.0 sq mi

ZIP Area

1,149

Density / Sq Mi

$74,781

Median Household Income

$43,662

Median Earnings

$1,081

Median Rent

$188,400

Median Home Value

Market

Average Price Trend$/SF for Multifamily properties in Akron, OH

$97.99 Jul

$86.51 Aug

$84.76 Sep

$87.47 Oct

Properties on Market for Multifamily properties in Akron

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Flexible living arrangement with lake views and an extra-deep two-car garage.

Where is this multifamily property located?

The property is located at 226 E Pace Ave Akron, OH.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Lakeview setting overlooking East Reservoir in Portage Lakes; 2,159 square feet with 3 bedrooms and 2.5 bathrooms; Multifamily layout with multiple living possibilities