Property Details for 39 25Th St

Year built

1908

Property size

4,400 SF

Property type

Apartment buildings

Description

This exceptional 8-unit apartment building, located at 39 25th St NW in Barberton, Ohio, presents a turnkey investment opportunity. The property, built in 1908 and extensively renovated in 2024, boasts 4,400 square feet of net rentable space, spread across one two-story building. Each of the eight units features two bedrooms and one bathroom, and all have undergone complete renovations, including new plumbing, windows, kitchens, bathrooms, paint, and flooring. The exterior has also received necessary maintenance. The property offers ample on-site parking and features garden-style entrances, eliminating interior common areas. Scheduled rents are $850+ per month per unit, plus electricity, a rate confirmed by the Akron Metropolitan Housing Authority (AMHA) for a pending subsidized tenant. The current professional property management company is in place and willing to continue managing the property, or the management can be transferred to the new owner. The property's pro-forma NOI is $58,644, resulting in a pro-forma cap rate of 9.38%. The asking price is $625,000, representing a price per unit of $78,125 and a price per square foot of $142.05. Water, sewer, trash, gas for heating (two boilers), and hot water heaters are included in the owner's expenses. The property enjoys a quiet location on a dead-end street, yet remains conveniently close to amenities, including a large hospital, above-average schools, and easy freeway access. Barberton, a suburb of Akron, Ohio, offers a small-town atmosphere with access to a variety of conveniences. This is a rare opportunity to acquire a fully renovated, well-managed multifamily property in a desirable location with strong rental potential.

Location Insight

City

Barberton

County

Summit

State

Ohio

Longitude

-81.6307

Latitude

41.0068