For Sale
$641,050

1084 Jefferson Ave Akron, OH 44313

8-Unit Apartment Building, High Cap Rate

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
135
Exceptional investment opportunity in Akron, Ohio, presents the Jefferson Apartments, an 8-unit apartment building boasting a strong 8% capitalization rate and a Pro-Forma NOI of $50,362. This Class B property, situated on a 0.14-acre lot at 1084 Jefferson Ave, Akron, OH 44313 (APN 6844491), offers significant potential. Built in 1920 and extensively renovated in 2024, the building comprises 9,028 square feet across four stories. Five units have been fully remodeled and are ready for immediate rental income. Each spacious unit, exceeding 1,050 square feet, features an excellent layout. Individual tenant-paid boilers ensure efficient utility management. Rear parking accommodates five vehicles. The property also includes a basement with potential for additional unit development. The roof was replaced in 2022, adding to the building's overall value and reducing future maintenance costs. This turnkey property is a rare find, offering a blend of immediate income and future expansion possibilities. This family-owned and self-managed building has been meticulously maintained, promising a smooth transition for the new owner.

Highlights

  • 8-unit apartment building in Akron, OH with an 8% cap rate and $50,362 Pro-Forma NOI.
  • Class B property located at 1084 Jefferson Ave, Akron, OH 44313 (APN 6844491) on a 0.14-acre lot.
  • 9,028 sq ft building, four stories, built in 1920, extensively renovated in 2024.
  • Five remodeled units ready for immediate occupancy, each exceeding 1,050 sq ft.
  • Individual tenant-paid boilers, rear parking for five vehicles, and a basement with potential for expansion.
  • New roof (2022), family-owned and well-maintained.

Property Details for 1084 Jefferson Ave

Property type
Apartment buildings
Square Feet
9,028 SF
Class
B
Year Built/Renovated
1920/2024
Buildings
1
Stories
4
Lot Size (sq. ft)
6,098 SF
Units
8

Location Insight

City
Akron
County
Summit
State
Ohio
Latitude
41.09640848718
Longitude
-81.552806372209

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FAQs

What type of property is this?
Apartment building - 8-Unit Apartment Building, High Cap Rate
Where is the apartment building located?
The property is located at 1084 Jefferson Ave Akron, OH.
What is the asking price?
The asking price for this property is $641,050.
What are key features of this property?
This property features: 8-unit apartment building in Akron, OH with an 8% cap rate and $50,362 Pro-Forma NOI.; Class B property located at 1084 Jefferson Ave, Akron, OH 44313 (APN 6844491) on a 0.14-acre lot.; 9,028 sq ft building, four stories, built in 1920, extensively renovated in 2024.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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Contacts

Evan Pannell
Evan Pannell
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Jefferson Ave
Akron, OH 44313

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Jefferson Ave
Akron, OH 44313

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

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1084 Jefferson Ave
  • Evan Pannell
    Evan Pannell
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