OH > Akron > Hart C S
Akron, OH 44306,1105 2nd AVE
Akron, OH 44306,1105 2nd AVE
Akron, OH 44306,1105 2nd AVE
Akron, OH 44306,1105 2nd AVE
Akron, OH 44306,1105 2nd AVE
Akron, OH 44306,1105 2nd AVE
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Aaron Gobble

Aaron Gobble

+1(330) 612-2155
$ 1,250,000
Est. payment | /mo

0.4 Acres Lot

Save
$ 1,250,000
Est. payment | /mo
Save

0.4 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Hart C S

MLS Listing ID 5079956

HOA Y/N No

Year Built 1924

Annual Tax Amount $14,960

Tax Year 2023

Lot Size 0.402 Acres

Acres 0.4018

Property Description

Introducing an exceptional investment opportunity in Akron, Ohio—a 21-unit brick apartment building just minutes from the University of Akron and Summa Health! Priced at an attractive ~$59,000 per unit, this property features individual furnaces and hot water tanks in each unit, allowing tenants to cover their own utilities while the owner only covers water and sewer. With significant mechanical upgrades and cosmetic updates already completed in most units, new ownership can easily implement a value-add plan to increase rents and boost cash flow. Additionally, the potential to transition to Section 8 housing offers even greater returns. Operating at a solid 95% occupancy and boasting an 8% in-place cap rate, this asset has strong income generation and long-term appreciation. In-suite laundry enhances tenant convenience, making these units even more desirable. Situated in a thriving rental market supported by Akron's diverse economy, including healthcare, education, and ongoing downtown revitalization efforts, this property is the ideal addition to any savvy investor’s portfolio.

Location

State OH

County Summit

Interior

Heating Forced Air, Gas

Fireplace No

Exterior

Garage Additional Parking, Asphalt

Water Access Desc Public

Present Use Residential

Parking Type Additional Parking, Asphalt

Building

Sewer Public Sewer

Water Public

Schools

School District Akron Csd - 7701

Others

Tax ID 6814078

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687
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+1(330) 612-2155

aaron.gobble@joinreal.com

Akron, OH, United States

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1105 2nd AVE