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Updated about 7 years ago, 11/16/2017
Collect $1,204/month OR MORE on this 2 Unit Property In Akron
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
Interested. Provide info via piercedj@comcast.net
leave info sent on units plz? Smalltown4261@gmail.com! Ty
Both Executive Summaries should be in your inbox now, Christopher. Let me know if you have any questions.
Please email me this info - fahadi98033@gmail.com
thank you kindly
please e mail info mike@hondaofpasadena.com