Akron, OH 44306,347 Cleveland ST
Akron, OH 44306,347 Cleveland ST
Akron, OH 44306,347 Cleveland ST
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$1,090,000
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1.12 Acres Lot
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347 Cleveland ST Akron, OH 44306

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UPDATED:

10/25/2024 07:24 PM

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Subdivision Vandalia Heights

MLS Listing ID 5079887

HOA Y/N No

Year Built 1918

Annual Tax Amount $11,309

Tax Year 2023

Lot Size 1.123 Acres

Acres 1.1226

Property Description

An extremely rare opportunity awaits with this 11-property (12-unit) portfolio, offering fully turnkey investments! This package consists of 11 single-family homes and a duplex, all strategically located in desirable Akron and Canton neighborhoods making management a breeze! Each property has been recently renovated, with many receiving cosmetic updates like fresh paint, new flooring, updated fixtures, and light kitchen and bathroom upgrades. The majority of units are tenanted with reliable Section 8 tenants, providing consistent cash flow. Currently, five properties are being marketed for rent and are expected to be occupied before closing, ensuring a smooth transition. Once fully occupied, the portfolio boasts an impressive cap rate of over 9%?a rare find for updated properties. This opportunity offers strong double-digit cash-on-cash returns, making it ideal for savvy investors looking to add high-performing assets to their portfolio!

Location

State OH

County Summit

Interior

Heating Forced Air, Gas

Fireplace No

Exterior

Water Access Desc Public

Building

Sewer Public Sewer

Water Public

Schools

School District Akron Csd - 7701

Others

Tax ID 6726313

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard


Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687

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Coleena Groch

Agent/Office Manager | License ID: SAL.2016002210,220302318

+1(740) 278-6189

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347 Cleveland ST