488 Zahn Dr Akron, OH 44313
- Apartment buildings
- 17,232 SF
- 0.74 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 488 Zahn Dr
- Year built
- 1968
- Lot size
- 0.74 lot acres
- Property size
- 17,232 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained, 16-unit apartment complex situated on a 0.74-acre lot at 488 & 500 Zahn Drive, Akron, OH. The property comprises two buildings, each housing eight one-bedroom, one-bathroom apartments, totaling 17,232 square feet. Each unit is equipped with a stove and refrigerator, and tenants are responsible for their own utilities. Currently, 15 of the 16 units are occupied, generating consistent cash flow. Each apartment includes one designated parking space. Recent improvements include significant landscaping enhancements and the removal of overgrowth around the parking areas, enhancing the property's curb appeal and tenant satisfaction. The property is priced at $1,200,000. Showings of the single vacant unit will only be conducted upon receipt of a Letter of Intent or formal offer. This presents a strong value proposition for investors seeking a stable, cash-flowing multifamily asset in a desirable Akron location. The property's high occupancy rate and recent improvements minimize immediate capital expenditure needs, allowing for a swift return on investment. The convenient one-bedroom, one-bathroom floor plans cater to a wide range of tenants, ensuring consistent demand. This is an ideal opportunity to acquire a turnkey multifamily investment with immediate income generation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Akron
- County
- Summit
- State
- Ohio
- Longitude
- -81.5719
- Latitude
- 41.124
