Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1976
Sq.Footage
N/A
18 units, all 1 bedroom, 1 bath. Ample on-site parking. No interior common areas or halls, all entrances are garden entrances. Renovated throughout and market ready. Over $80,000 in capital improvements in the last 18 months. Area market rents are $795-825 + electric. Owner pays water/sewer/trash and gas to heat (boiler) and HWT. Ideal location close to many amenities, highway access and near the bus route. This is a turn-key well-performing investment opportunity with more room for improvement. Purchased in disrepair and stabilized in condition and tenancy, it will cashflow for you from day-1. Professional property management in place with few vacancies being marketed to new residents at $795+electric per unit per month. This is an ideal location for additional subsidized rents through AMHA and the HUD/VASH programs. The property’s zip code qualifies it for higher rent rates, being in a zone for opportunity for AMHA. The location of this building is ideal as it is close to highways, central akron, and many manufacturing facilities, as well as the popular Portage Lakes. The current property managers are happy to continue service as they work to get the building fully occupied, or it can be transferred with the sale.
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.4578
-
Property Type
Commercial Sale
Exterior
-
Garage
No
-
Parking
Asphalt
Financial
-
Sales Price
$1,075,000
-
Tax Amount
12884.0
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Location
County
Summit
Elementary School
Middle School
High School
Listing Courtesy of Mark E Miller , Century 21 Carolyn Riley RL. Est. Srvcs, Inc.
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