Listed By
Agency Name: RE/MAX Market Solutions
Agency Contact: kellywiseproperties@gmail.com, 330-907-4100
Shown By
Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575
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Property Description
Rare opportunity to acquire a beautifully maintained, modern 24 unit apartment community in the desirable Ellett area, conveniently located near major highways, dining, and shopping. The apartment community has a strong unit mix of six one bedroom units and eighteen two bedroom units. Each unit has a sunny an open kitchen and living room, and all one bedroom units feature walk in closets, while select two bedroom units also include spacious walk in closets. Tenants pay electric (HVAC and water tanks are electric), owner pays water/trash/sewer. The property has seen substantial capital improvements, including new roofs and siding on both buildings completed in 2023. Since 2019, upgrades include 13 new HVAC systems, 9 new hot water tanks, updated flooring in 13 units, and numerous new kitchen appliances. Residents enjoy flexible laundry options with both a common area coin operated facility and in unit washer/dryer hookups. Situated on a spacious lot along a quiet residential street, the property offers ample off-street parking for tenants. With consistently low vacancy, this asset presents an excellent investment opportunity that offers a considerable upside potential on rent growth.
Property Features
Property Type: Commercial - Business
Cooling: Central Air
Heating: Electric, Forced Air, Heat Pump
Lot Size: 0.93 Acres
Stories: 2.0
Taxes: $50,048 / year
Year Built: 2002
Feature Descriptions
Parcel#: 6859302
Parking: On Site, Paved
Sewer: Public Sewer
Water: Public
Local Schools
School District: Akron City
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1894-1898 Springfield Lake Boulevard | MLS# 5201659
This commercial property located at 1894-1898 Springfield Lake Boulevard, Akron, OH 44312 is currently listed for sale with an asking price of $2,100,000. 1894-1898 Springfield Lake Boulevard is located within the Akron City school district. Search Akron real estate on www.cutlercigroup.com today.