4-Unit Multifamily
642 E Buchtel Ave, Akron, OH 44304
For Sale
$399,900
Two units have recent updates, and residents have access to dedicated off-street parking.
Property Size3,600 SF
Price / SF$111.08
Days on Market45
Property Features for 642 E Buchtel Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
RE/MAX Edge Realty
Listed By:
Adam J Coleman · License #2018003931
(330) 310-9489
Source:
Homessouthofcleveland
Added: Sep 24
Changed: Nov 7
Last Checked: Nov 7 at 7:05PM
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 Edge Realty
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Investment Insights
Based on property information with market context.
Built in 2004, this four-unit multifamily property contains 3,600 square feet. Two units have received recent updates, and the property includes a dedicated off-street parking lot.
The property is at 642 E Buchtel Ave in Akron, with access to Summa Health, the University of Akron, Downtown Akron, the East End, restaurants, shopping, and entertainment. Highway access connects the area to destinations throughout Akron and beyond.
The property is at 642 E Buchtel Ave in Akron, with access to Summa Health, the University of Akron, Downtown Akron, the East End, restaurants, shopping, and entertainment. Highway access connects the area to destinations throughout Akron and beyond.
Key Highlights
- Four units totaling 3,600 square feet
- Built in 2004
- Two units have recent updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,968
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,360
$659.4K
Cap Rate 7%
$470,971
$471.0K
Cap Rate 9%
$366,311
$366.3K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$49.7K $13.80/SF
− Vacancy
−$2.6K −$0.72/SF
EGI
$47.1K $13.08/SF
− OpEx
−$14.1K −$3.92/SF
NOI
$33.0K $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%
$659,360
Cap Rate 7%
$470,971
Cap Rate 9%
$366,311
Alternative Uses
Best Use
Multifamily LT 5
$471.0K
$412.1K – $549.5K
NOI $32,968 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$412.3K
$360.8K – $481.0K
NOI $28,862 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$883.5K
$773.0K – $1.03M
NOI $61,843 @ 7.0% cap · market cap 15.46%
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
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 44304, OH
4,185
Population
1,660
Households
2.5
Avg Household Size
27
Median Age
33%
College-Educated
92%
High-School Grad
1.3 sq mi
ZIP Area
3,219
Density / Sq Mi
$35,946
Median Household Income
$14,518
Median Earnings
$958
Median Rent
$70,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Two units have recent updates, and residents have access to dedicated off-street parking.
Where is this quadplex located?
The property is located at 642 E Buchtel Ave Akron, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four units totaling 3,600 square feet; Built in 2004; Two units have recent updates
