50
See all 50 photos
$1,090,000
Est. payment /mo
1.12 Acres Lot
Pending
347 Cleveland ST Akron, OH 44306
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UPDATED:
11/19/2024 05:23 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Subdivision Vandalia Heights
MLS Listing ID 5079887
HOA Y/N No
Year Built 1918
Annual Tax Amount $11,309
Tax Year 2023
Lot Size 1.123 Acres
Acres 1.1226
Property Description
An extremely rare opportunity awaits with this 11-property (12-unit) portfolio, offering fully turnkey investments! This package consists of 11 single-family homes and a duplex, all strategically located in desirable Akron and Canton neighborhoods making management a breeze! Each property has been recently renovated, with many receiving cosmetic updates like fresh paint, new flooring, updated fixtures, and light kitchen and bathroom upgrades. The majority of units are tenanted with reliable Section 8 tenants, providing consistent cash flow. Currently, five properties are being marketed for rent and are expected to be occupied before closing, ensuring a smooth transition. Once fully occupied, the portfolio boasts an impressive cap rate of over 9%—a rare find for updated properties. This opportunity offers strong double-digit cash-on-cash returns, making it ideal for savvy investors looking to add high-performing assets to their portfolio!
Location
State OH
County Summit
Interior
Heating Forced Air, Gas
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Schools
School District Akron Csd - 7701
Others
Tax ID 6726313
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687