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Key Details
Sold Price $1,086,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Springfield Terrace
MLS Listing ID 5048222
Sold Date 10/18/24
HOA Y/N No
Year Built 1967
Annual Tax Amount $17,272
Tax Year 2023
Lot Size 7,440 Sqft
Acres 0.1708
Property Description
Rare opportunity to own a meticulously maintained 16-unit apartment building in Ellet (Akron), Ohio. This property includes fourteen 2/1 units and two 1/1 units, the majority of which have been fully updated, with one more underway. Masonry construction, the with recent major mechanical upgrades such as a new 100-gallon hot water tank, a modern boiler with a new pump installed, and a new full tear off roof in 2019. Each unit is equipped with wall-mounted air conditioning units and fully applianced kitchens. Rent increases have been successfully implemented across all units, and the building enjoys historically low vacancy rates. Ample parking is available for residents, and the property includes a clean coin-operated laundry facility that generates additional cash income with room for further expansion. Close to shopping, dining, freeways, and situated in Ellet Schools.
Location
State OH
County Summit
Interior
Heating Baseboard, Forced Air
Cooling Wall Unit(s)
Fireplace No
Laundry Coin-operated
Exterior
Garage Additional Parking, Asphalt, Common, Driveway
Water Access Desc Public
Roof Type Shingle
Present Use Commercial
Building
Sewer Public Sewer
Water Public
Schools
School District Akron Csd - 7701
Others
Tax ID 6748538
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
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Bought with Amy Wengerd • EXP Realty, LLC.