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Updated about 7 years ago, 11/16/2017

User Stats

526
Posts
48
Votes
Todd Keith
Pro Member
  • Real Estate Investor
  • Dallas, TX
48
Votes |
526
Posts

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

Todd Keith
Pro Member
  • Real Estate Investor
  • Dallas, TX
Posted

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.

______________________________________________________________________________________________________________________

INVESTMENT OPPORTUNITY

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

Building Class: C

Location Class:

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.

________________________________________________________________________________________________________________________

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

_________________________________________________________________________________________________________________________________ 

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

____________________________________________________________________________________________________________________________

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
  • Todd Keith
  • Offering

    User Stats

    40
    Posts
    5
    Votes
    Diane Pierce
    • Stafford, VA
    5
    Votes |
    40
    Posts
    Diane Pierce
    • Stafford, VA
    Replied

    Interested. Provide info via piercedj@comcast.net

    User Stats

    526
    Posts
    48
    Votes
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    48
    Votes |
    526
    Posts
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    Replied

    Will do. Should have that to you tomorrow morning.

  • Todd Keith
  • Rent To Retirement logo
    Rent To Retirement
    |
    Sponsored
    Turnkey Rentals 12+ States. SFR, MF & New Builds, High ROI! 3.99% rates, 5% down loans, below market prices across the US! Txt REI to 33777

    User Stats

    526
    Posts
    48
    Votes
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    48
    Votes |
    526
    Posts
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    Replied

    Should be in your inbox now. Thanks

  • Todd Keith
  • User Stats

    151
    Posts
    11
    Votes
    Christopher Shawn eady
    • Atlanta, GA
    11
    Votes |
    151
    Posts
    Replied

    leave info sent on units plz? Smalltown4261@gmail.com! Ty

    User Stats

    526
    Posts
    48
    Votes
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    48
    Votes |
    526
    Posts
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    Replied

    Both Executive Summaries should be in your inbox now, Christopher. Let me know if you have any questions. 

  • Todd Keith
  • User Stats

    27
    Posts
    3
    Votes
    Fahadi Unmani
    • San Francisco, CA
    3
    Votes |
    27
    Posts
    Fahadi Unmani
    • San Francisco, CA
    Replied

    Please email me this info - fahadi98033@gmail.com

    thank you kindly

    User Stats

    40
    Posts
    4
    Votes
    Mike Abramov
    • Specialist
    • Pasadena, CA
    4
    Votes |
    40
    Posts
    Mike Abramov
    • Specialist
    • Pasadena, CA
    Replied

    please e mail info mike@hondaofpasadena.com

    User Stats

    526
    Posts
    48
    Votes
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    48
    Votes |
    526
    Posts
    Todd Keith
    Pro Member
    • Real Estate Investor
    • Dallas, TX
    Replied

    Mike and Fahad - The exec summary should be in your inbox now. Thanks. 

  • Todd Keith