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Ellet Ave Apartments 2615 Ellet Ave 16 Unit Apartment Building $1,250,000 ($78,125/Unit) Akron, OH 44312
Investment Highlights
- 11,194 square foot building
- Zoned as U-2
- 16 residential units
Executive Summary
A rare opportunity to own this 16-unit solid brick two-level apartment building in the heart of Ellet. Of the 16 units, there are 3 currently vacant and being marketed for rent. The building is comprised of 14-two bedroom units and 2-one bedroom units. Four of the units are currently under a 1-year lease while the remaining are M2M. Most of the units have been updated and are furnished with kitchen appliances and wall units for cooling. Updates in recent years include a 100-gallon water heater, boiler, roof (2019). There is ample parking space in the asphalt parking lot along with 3 convenient sets of steps to access the second floor units. Added income for the new owner is provided by the coin laundry on the ground level of the building. The location is ideal with a Metro bus stop within walking distance along with shopping, dining, and highway access.
Property Facts
| Price | $1,250,000 | Building Class | C |
| Price Per Unit | $78,125 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 11,194 SF |
| No. Units | 16 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1967 |
| Apartment Style | Low-Rise | Parking Ratio | 1.36/1,000 SF |
| Zoning | U-2 - Apartment House | ||
| Price | $1,250,000 |
| Price Per Unit | $78,125 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 11,194 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.36/1,000 SF |
| Zoning | U-2 - Apartment House |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Eat-in Kitchen
- Kitchen
- Range
- Carpet
- Linen Closet
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 475 |
| 2+1 | 14 | - | 620 |
1 1
Walk Score®
Very Walkable (78)
Property Taxes
| Parcel Numbers | Improvements Assessment | $194,408 | |
| Land Assessment | $30,226 | Total Assessment | $224,634 |
Property Taxes
Parcel Numbers
Land Assessment
$30,226
Improvements Assessment
$194,408
Total Assessment
$224,634
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Ellet Ave Apartments | 2615 Ellet Ave
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