2547 Manchester Rd Akron, OH 44319

Property Details for 2547 Manchester Rd

Property type

Small apartment buildings

Description

This exceptional 18-unit apartment building in Akron, Ohio, presents a turnkey investment opportunity. All units are one-bedroom, one-bathroom apartments, each with a private garden entrance, eliminating common hallways and interior spaces. Ample on-site parking is available for residents. The property has undergone extensive renovations, boasting over $80,000 in capital improvements within the last 18 months, ensuring it's market-ready and in excellent condition. Current market rents range from $795 to $825 per month, plus electricity, generating strong cash flow from day one. The seller covers water, sewer, trash, gas for heating (boiler), and hot water. The property benefits from professional property management already in place, minimizing vacancy rates and maximizing rental income. Its strategic location near highways, central Akron, manufacturing facilities, and the Portage Lakes offers high demand and potential for increased rental rates. The property's zip code (44319) qualifies it for higher rent rates through programs like AMHA and HUD/VASH, providing additional income opportunities. This well-maintained building is a stable investment with significant upside potential, making it an attractive option for discerning investors. The current property management company is willing to continue their services, ensuring a smooth transition for the new owner.