232 Cole Ave
Akron, OH 44301
South Akron
HIGHLIGHTS
- Stable Cash Flow: 100% occupied with reliable tenants through one organization “Harmony House” producing an NOI of $48,406.
- Turn-Key Asset: Fully renovated in 2024 — modern systems and updated interiors
- Attractive Returns: Offered at $495,000, this property delivers an 9.8% cap rate
- Low Operating Costs: 15 year Real estate tax abatement available by application to the city of Akron with minimal ongoing expenses due to extensive re
- Historic Character, Modern Upgrades: Originally built in 1928, the building combines vintage architecture with contemporary finishes.
- Hands-Off Ownership: Ideal for Investors seeking a stabilized, income-producing asset.
FOR SALE DETAILS
PRICE
$495,000 USD
PRICE/SF
$77 USD /SF
# OF UNITS
6
PRICE/UNIT
$82,500
CAP RATE
9.78%
% LEASED
100%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1928
PARKING SPACES
6
LAND DETAILS
LAND ACRES
0.12 AC
LAND SF
5,185 SF
ZONING
U-1
APN/PARCEL ID
67-46984
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330-990-1839
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330-990-1839
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