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Newton House Apartments 2323 Newton St 22 Unit Apartment Building $1,690,000 ($76,818/Unit) 8.99% Cap Rate Akron, OH 44305
Executive Summary
Welcome to Newton House Apartments. This well maintained property is a 22 unit, 2 story garden style apartment building consisting of 18- 2 bedroom and 4- 1 bedroom units, all with 1 full bathroom. The two bedroom units are approximately 700 Sq. Ft. and the one bedroom units about 600 +/-. There is a coin operated laundry room in the building, all units have electric ranges and there is baseboard, hot water heat with boiler replaced in 2012. The roof was replaced approximately 2009 and alot of windows/doors in 2009-2010. Two water tanks were just replaced in 2024 and the whole parking lot was stripped & resurfaced in 2025.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $1,690,000 | Building Class | C |
| Price Per Unit | $76,818 | Lot Size | 0.80 AC |
| Sale Type | Investment | Building Size | 17,944 SF |
| Cap Rate | 8.99% | Average Occupancy | 95% |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.17/1,000 SF |
| Apartment Style | Garden |
| Price | $1,690,000 |
| Price Per Unit | $76,818 |
| Sale Type | Investment |
| Cap Rate | 8.99% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.80 AC |
| Building Size | 17,944 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.17/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 10 | - | 700 |
Property Taxes
| Parcel Number | 68-54910 | Improvements Assessment | $166,978 |
| Land Assessment | $43,222 | Total Assessment | $210,200 |
Property Taxes
Parcel Number
68-54910
Land Assessment
$43,222
Improvements Assessment
$166,978
Total Assessment
$210,200
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Newton House Apartments | 2323 Newton St
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