42 Tallmadge AveAkron, OH 44310

For Sale
$925,000

High-Cash Flow Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
92
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.

Highlights

  • $925,000 asking price for a 16-unit apartment building.
  • Multifamily property, Class C, with 5,200 square feet of net rentable area.
  • Located at 42 E Tallmadge Ave, Akron, OH 44310.
  • Three-story building with 16 units, offering a price per unit of $57,812.50.
  • Currently under-rented with significant upside potential in rental income.

Property Details for 42 Tallmadge Ave

Property type
Multifamily properties, Apartment buildings
Class
C
Stories
3
Units
16

Location Insight

City
Akron
County
Summit
State
Ohio
Latitude
41.1019019
Longitude
-81.5136282
42 Tallmadge Ave, Akron, Ohio

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42 Tallmadge Ave
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