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23 Charlotte St 9 Unit Apartment Building $800,000 ($88,889/Unit) 9.08% Cap Rate Akron, OH 44303
INVESTMENT HIGHLIGHTS
- Hip residential neighborhood with lots of artsy, young professionals and young families
- Near bars, restaurants, LeBron James' iPromise properties
- Located on Akron's main street - Market Street
EXECUTIVE SUMMARY
9 unit fully renovated multifamily in Akron's hip Highland Square neighborhood with dedicated parking, partitioned storage units in the basement, washer-dryer setup in the basement with all new electricals done in 2012. Property comes with 1 Building situated on 3 Parcels (23 , 27 and 31 Charlotte St) All units are 2 bedrooms, 1 bath with LVP floors and modern updates done in the last 3 years. Building is AMHA and VASH approved. Located right next to LeBron James Family Foundation iPromise House330, iPromise Healthquarters, loads of bars, grocery stores, Wholefoods and restaurants.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $88,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 9.08% | Building Size | 8,940 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1919/2025 |
| Property Subtype | Apartment | Parking Ratio | 0.67/1,000 SF |
| Zoning | Multifamily | ||
| Price | $800,000 |
| Price Per Unit | $88,889 |
| Sale Type | Investment |
| Cap Rate | 9.08% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 8,940 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1919/2025 |
| Parking Ratio | 0.67/1,000 SF |
| Zoning | Multifamily |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 9 | $1,000 | 750 - 850 |
1 1
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 68-01234 | Total Assessment | $143,500 |
| Land Assessment | $6,818 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $136,682 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
68-01234
Land Assessment
$6,818
Improvements Assessment
$136,682
Total Assessment
$143,500
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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23C Properties LLC
23 Charlotte St
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