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232 Cole Ave
Akron, OH 44301 South Akron

$495,000 USD

Apartments For Sale  •  6,468 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,468 SF
  • Lot Size 0.13 AC
  • Building Class C
  • Year Built 1928
  • Zoning U-1
30 Transit Score
50 Walk Score

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.

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
9 min - 3.3 mi
16 min - 6.4 mi
AirportDriveWalkDistance
Akron-Canton Regional 18 min - 11.9 mi
Cleveland-Hopkins International 59 min - 41.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 6
Type: Surface
Included in Rent: Yes
Patrick Powers 330-990-1839 Pappas Realty Co.
Patrick Powers 330-990-1839 Pappas Realty Co.