Property
Beds
9
Full Baths
9
1/2 Baths
None
Year Built
1894
Sq.Footage
N/A
Great investment opportunity at University Akron in a PRIME LOCATION!! The package is 10 properties (1 four unit- 2 bed 1 bath each, 4 duplexes, and 5 single family) all located on Torrey St, one block from E. Exchange behind The Edge building, a 5 minute walk to the center of campus. All of the properties have new roofs in 2020, vinyl windows, updated electric (no knob and tube), updated plumbing (no galvanized), newer flooring, light fixtures, and have recently been leased for the 25-26 school year, with all leases expiring at the end of July 2026. The location and condition makes leasing much easier than most other options. The properties have a combined 49 bedrooms and 21 bathrooms. Annual gross rents $207,240, Utilities (landlord pays utilities except internet) $49,368, Insurance $10,632, Property Taxes $20,568, NOI $126,672- 9% Cap Rate. There is opportunity to add value through leasing additional bedrooms, changing to section 8 tenants, and not paying utilities on the next round of leasing.
Features & Amenities
Interior
-
Total Bedrooms
9
-
Bathrooms
9
-
Basement YN
YES
-
Cooling YN
YES
-
Cooling
Window Unit(s)
-
Heating YN
YES
-
Heating
Natural Gas, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Aluminum Siding, Vinyl Siding, Wood Siding
-
Parking
Common, Driveway
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.0606
-
Property Type
Residential Income
-
Property Sub Type
Quadruplex
Price
-
Sales Price
$1,400,000
-
Tax Amount
20568.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Akron CSD - 7701
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Summit
Elementary School
Akron CSD - 7701
Middle School
High School
Listing Courtesy of Justin T Aikens , Keller Williams Chervenic Rlty
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AGENT
JeffHelfrich
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