406 Sumner St
Akron, OH 44304
Downtown Akron
HIGHLIGHTS
- Owned and self-managed by out of town partnership
- Strong value-add opportunity featuring 1994 construction steps away from University of Akron and Downtown
- Currently 76.2% occupied despite 95% market occupancy
- Nearly all units renovated with luxury vinyl plank flooring, new white appliances, and bathroom vanities
- University of Akron features nearly 15,000 students & over 1,800 employees while boasting the #1 ranked Polymer Science & Polymer Engineering programs
- 1.5 miles of 3 major hospitals – Summa Health (6,200 employees), Akron Children’s Hospital (5,400) and Cleveland Clinic Akron (4,500)
FOR SALE DETAILS
PRICE
$2,850,000 USD
PRICE/SF
$134 USD /SF
# OF UNITS
42
PRICE/UNIT
$67,857
CAP RATE
Request Cap Rate
% LEASED
95%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Sumner Point
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1994
PARKING SPACES
40
LAND DETAILS
LAND ACRES
0.74 AC
LAND SF
32,265 SF
ZONING
Commercial
APN/PARCEL ID
68-57663
ASK ABOUT THIS PROPERTY
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216-264-2048
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216-264-2048
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