16 Berwyck Dr Akron, OH 44312
- Apartment buildings
- 9,512 SF
- 2.04 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 16 Berwyck Dr
- Year built
- 1970
- Lot size
- 2.04 lot acres
- Property size
- 9,512 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a fully renovated, 20-unit apartment complex situated on a 2.04-acre lot in Akron, Ohio's desirable Ellet School District. The property, comprised of two, two-story buildings, totaling 9,512 square feet, underwent a complete renovation in 2021. Each of the 20 units features modern, high-demand finishes including stainless steel appliances, granite countertops, and luxury vinyl plank flooring. The complex boasts 35 parking spaces in a newly installed parking lot, enclosed by a vinyl fence. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $156,680, representing a 5.6% capitalization rate. The asking price is $2,800,000, translating to $140,000 per unit and $294.37 per square foot. The property is zoned for commercial use and features secure entry and upgraded common areas. This turnkey investment offers immediate income potential and strong long-term appreciation prospects in a thriving market. The property's location provides convenient access to local amenities and transportation. This is an ideal opportunity for investors seeking a stable, high-yield asset with minimal management oversight. APN: 6840766 & 6840767.
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
- -81.4501
- Latitude
- 41.0626
