Collect $1,204/month OR MORE on this 2 Unit Property In Akron

[Todd Keith]

Collect $1,205/month OR MORE on this

2 Unit Property In Akron’s West Hill Community!

Perfect Starter Property

Are you looking for real passive income?

Are you looking to multiply your returns in real estate?

Tired of competing over single family units?

For less than the price of most Single Family Homes, you can have 2 income-producing units!

PRICED TO MOVE QUICKLY: $29,000

This multifamily property offers multiple money-generating strategies:

Priced to MOVE

Trending West Hill Community

$10,029 estimated annual NOI

Room for Rent Increases

Perfect small multifamily deal

Even more possible value plays!

This is an OFF-MARKET DEAL.

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INVESTMENT OPPORTUNITY

Purchase Price: $29,000 Cost per door: $14,500

Building Class: C

Location Class: C 

Number of Units: 2

Style: Two-story, garden type

Current Occupancy: 100%

Market Cap Rate: 10.5%

Building Square Footage: 1,495

Land Acreage: .39

Year Built: 1904

Opportunity: Excellent opportunity for an investor to get on board with a stable property with possible value added by reducing expenses or increasing rents.

Status: Under contract by Five Stream Ventures, LLC. New Buyer will be assigned the contract to close. Price includes the assignment fee to Five Stream Ventures, LLC.

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PROPERTY DESCRIPTION

Unit Mix & Rents:

Type	# of Units	Rent	Market Rent
1 Bed / 1 Bath	1	$410	$550
2 Bed / 1 Bath	1	$525	$655

Number of Units: 2

Electric: Metered

Roof: Pitched

Construction: Frame Exterior

Current Occupancy: 100%

Building Square Footage: 1495

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INCOME & EXPENSES (ACTUALS)

Monthly Income $$935

Gross Scheduled Income $11,220

Less Expenses* $2,984

Net Operating Income $5,049

            *Expenses include: Taxes, Insurance, Water, Sewer, Trash Removal

             Electricity Paid By Tenants

             Seller Financing Not Available

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PROPERTY HIGHLIGHTS

• Great investment property in Akron, OH which is a part of larger Cleveland-Akron-Canton OH Metropolitan Area with a population of 3,500,000+
• Akron is one of the top Real Estate markets in Ohio
• Two Fortune 500 companies have Head Quarters in Akron
• Projected Job Growth in Akron is over the next 10 years is 36%
• Stable occupancy with opportunity for rent increases and further value creation
• Great location, 8 min drive to University of Akron(with an enrollment of 27,000 students/year)
• 21 min drive to Kent State University(with an enrollment of 40,000 students/year)
• 13 min drive to Akron Fulton International Airport
• Rental Increase Upside
• Individually metered for electric – tenants pay electric
• Centrally located between downtown Akron and trendy Highland Square
• Professional Property Management Company Available