628 UnitsAkron, OH 44311

For Sale
$625,000

Six-unit apartment building, strong cash flow.

Overview

Added:
Feb 3
Days on market:
39
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.

Property Details for 628 Units

Property type
Residential income properties, Multifamily properties
Square Feet
5,328 SF
Year Built
1889
Lot Size (sq. ft)
10,890 SF

Location Insight

City
Akron
County
Summit
State
Ohio
Latitude
41.06601
Longitude
-81.51505
628 Units, Akron, Ohio

FAQs

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628 Units
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