2615 Ellet Ave - Apartments FOR SALE


Akron, OH 44312- Ellet
$1,250,000 USD
330-608-9714
2615 Ellet Ave, Akron, OH for Sale
$1,250,000 USD
Apartments - FOR SALE
1/73
null | Request Cap Rate

2615 Ellet Ave
Akron, OH 44312
Ellet


HIGHLIGHTS

  • 11,194 square foot building
  • 16 residential units
  • Zoned as U-2

OVERVIEW

A rare opportunity to own this 16-unit solid brick two-level apartment building in the heart of Ellet. Of the 16 units, there are 3 currently vacant and being marketed for rent. The building is comprised of 14-two bedroom units and 2-one bedroom units. Four of the units are currently under a 1-year lease while the remaining are M2M. Most of the units have been updated and are furnished with kitchen appliances and wall units for cooling. Updates in recent years include a 100-gallon water heater, boiler, roof (2019). There is ample parking space in the asphalt parking lot along with 3 convenient sets of steps to access the second floor units. Added income for the new owner is provided by the coin laundry on the ground level of the building. The location is ideal with a Metro bus stop within walking distance along with shopping, dining, and highway access.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$112 USD /SF

# OF UNITS

16

PRICE/UNIT

$78,125

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ellet Ave Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

28,035 SF

ZONING

U-2

APN/PARCEL ID

67-48538,67-48539,67-48540

ASK ABOUT THIS PROPERTY

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330-608-9714

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330-608-9714

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