List Search

801-805 E Exchange St
Akron, OH 44306 Downtown Akron

$499,000 USD

Apartments For Sale  •  5,376 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,376 SF
  • Lot Size 0.21 AC
  • Building Class C
  • Year Built 1926
  • Zoning Multi-Family
40 Transit Score
70 Walk Score

Highlights

Strong Yield: Actual 9.92% Cap Rate ($49,522 NOI) with a clear path to an 11.64% Cap Rate ($58,093 Pro-Forma NOI).
Flexible Acquisition: Offered in bulk for $499,000 ($62,375/unit) or individually ($269,900 for 801 E. Exchange / $239,900 for 805 E. Exchange).
Immediate Value-Add: 5 of 8 units converted to high-rent 2-bed layouts. Additional upside to convert last 3 units to 2-beds & utilize laundry hook-ups
Stable Turn-Key Investment with very little deferred maintenance and needing very little management
Submetered Utilities: Tenants pay individual gas heat and electric; Landlord pays only water and sewer.
Strategic Tenant Base: Located 0.6 miles from the University of Akron (15,000+ students, 80 buildings), driving historically low vacancy rates

Amenities

  • Balcony
  • Laundry Facilities
  • Security System
  • Hardwood Floors

Public Transportation

Commuter RailDriveWalkDistance
Akron Northside (National Park Scenic Railway - Cuyahoga Valley Scenic Railroad) 6 min - 2.3 mi
Big Bend (National Park Scenic Railway - Cuyahoga Valley Scenic Railroad) 14 min - 5.6 mi
AirportDriveWalkDistance
Akron-Canton Regional 19 min - 13.7 mi
Cleveland-Hopkins International 58 min - 42.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 8
Type: Surface
Included in Rent: Yes
Matthew King 440-552-5858 Green Bridge Real Estate
Matthew King 440-552-5858 Green Bridge Real Estate