628 Units Akron, OH 44311
- Apartment buildings
- 5,328 SF
- 0.25 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 628 Units
- Year built
- 1889
- Lot size
- 0.25 lot acres
- Property size
- 5,328 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained six-unit multi-family property located in the heart of downtown Akron, Ohio. The property comprises three duplexes totaling 5,328 square feet of finished residential space, featuring two 2-bedroom units, three 3-bedroom units, and one 4-bedroom unit. Situated on two adjacent lots with a combined frontage of 102 feet on Sumner Street and additional frontage on Thornton Street, the property offers ample space for off-street parking. The building boasts forced-air gas heating, central air conditioning, and public water and sewer services. Additional features include an unfinished basement and an asphalt/fiberglass roof. The property enjoys a desirable location, providing renters easy access to shopping, amenities, public transportation, Akron University, and major roadways like Route 8 and I-76. Current annual gross rent is $67,800, with this year's expenses (including management, maintenance, utilities, trash, lawn/snow care, and unit upgrades) totaling $22,291. Landlord expenses this year for property updates, marketing, and showing amounted to $52,976. This property is ideal for investors seeking a reliable income stream and potential for future growth in a thriving urban setting. The property's convenient location and strong rental history make it a compelling investment opportunity.
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
- -81.5151
- Latitude
- 41.066
