18
See all 18 photos
$1,400,000
Est. payment /mo
9 Beds
9 Baths
2,639 Sqft Lot
New
298 Torrey ST Akron, OH 44304
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5152591
Bedrooms 9
Full Baths 9
HOA Y/N No
Year Built 1894
Annual Tax Amount $20,568
Tax Year 2024
Lot Size 2,639 Sqft
Acres 0.0606
Property Sub-Type Quadruplex
Stories Two
Story Two
Property Description
Great investment opportunity at University Akron in a PRIME LOCATION!! The package is 10 properties (1 four unit- 2 bed 1 bath each, 4 duplexes, and 5 single family) all located on Torrey St, one block from E. Exchange behind The Edge building, a 5 minute walk to the center of campus. All of the properties have new roofs in 2020, vinyl windows, updated electric (no knob and tube), updated plumbing (no galvanized), newer flooring, light fixtures, and have recently been leased for the 25-26 school year, with all leases expiring at the end of July 2026. The location and condition makes leasing much easier than most other options. The properties have a combined 49 bedrooms and 21 bathrooms. Annual gross rents $207,240, Utilities (landlord pays utilities except internet) $49,368, Insurance $10,632, Property Taxes $20,568, NOI $126,672- 9% Cap Rate. There is opportunity to add value through leasing additional bedrooms, changing to section 8 tenants, and not paying utilities on the next round of leasing.
Location
State OH
County Summit
Rooms
Basement Full
Interior
Heating Forced Air, Gas
Cooling Window Unit(s)
Fireplace No
Exterior
Parking Features Common, Driveway
Water Access Desc Public
Roof Type Asphalt
Private Pool No
Building
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Akron Csd - 7701
Others
Tax ID 6829146
Listed by Justin T Aikens • Keller Williams Chervenic Rlty • jaikens@kw.com, 330-388-2637