1084 Jefferson Ave Akron, OH 44313
- Commercial real estate
- 9,028 SF
- 0.14 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1084 Jefferson Ave
- Year built
- 1920
- Lot size
- 0.14 lot acres
- Property size
- 9,028 SF
- Property type
- Commercial real estate
- APN
- 6844491
Description
Exceptional investment opportunity in Akron, Ohio, presents the Jefferson Apartments, an 8-unit apartment building boasting a strong 8% capitalization rate and a Pro-Forma NOI of $50,362. This Class B property, situated on a 0.14-acre lot at 1084 Jefferson Ave, Akron, OH 44313 (APN 6844491), offers significant potential. Built in 1920 and extensively renovated in 2024, the building comprises 9,028 square feet across four stories. Five units have been fully remodeled and are ready for immediate rental income. Each spacious unit, exceeding 1,050 square feet, features an excellent layout. Individual tenant-paid boilers ensure efficient utility management. Rear parking accommodates five vehicles. The property also includes a basement with potential for additional unit development. The roof was replaced in 2022, adding to the building's overall value and reducing future maintenance costs. This turnkey property is a rare find, offering a blend of immediate income and future expansion possibilities. This family-owned and self-managed building has been meticulously maintained, promising a smooth transition for the new owner.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Akron
- County
- Summit
- State
- Ohio
- Longitude
- -81.552806372209
- Latitude
- 41.09640848718
