42 E Tallmadge Ave Akron, OH 44310
- Residential income homes
- 4,416 SF
- 0.08 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 42 E Tallmadge Ave
- Year built
- 1928
- Lot size
- 0.08 lot acres
- Property size
- 4,416 SF
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 68-57924
- APU
- 6857924
Description
This three-story, 16-unit apartment building presents a compelling investment opportunity in Akron, Ohio. Located at 42 E Tallmadge Ave, in Summit County, this Class C property boasts 5,200 square feet of net rentable space. Currently, the building has five vacant units, offering immediate potential for increased revenue. The property is situated on a prominent corner lot at the intersection of Tallmadge Ave and Schiller Ave in North Akron. The current gross monthly rent is approximately $5,200, with significant upside potential due to under-market rents and the possibility of further renovations and improvements. Each unit is individually metered, with tenants responsible for all utilities except gas and garbage removal. The asking price is $925,000, translating to a price per unit of $57,812.50. This multifamily property offers a strong cash flow with a light value-add opportunity for an astute investor seeking a solid return on investment in a desirable Akron location. The property's strategic location and potential for rent increases make it an attractive prospect for both seasoned and emerging investors in the Ohio market. This is a rare chance to acquire a well-positioned multifamily asset with immediate upside potential.
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
- -81.5136
- Latitude
- 41.1019
- CBSA code
- 10420
- CBSA name
- AKRON, OH METROPOLITAN STATISTICAL AREA
