406 Sumner St | Akron, OH 44304
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406 Sumner St
Akron, OH 44304
Sumner Point · Multifamily Property For Sale
·
42 Units
INVESTMENT HIGHLIGHTS
- Owned and self-managed by out of town partnership
- Currently 76.2% occupied despite 95% market occupancy
- University of Akron features nearly 15,000 students & over 1,800 employees while boasting the #1 ranked Polymer Science & Polymer Engineering programs
- Strong value-add opportunity featuring 1994 construction steps away from University of Akron and Downtown
- Nearly all units renovated with luxury vinyl plank flooring, new white appliances, and bathroom vanities
- 1.5 miles of 3 major hospitals – Summa Health (6,200 employees), Akron Children’s Hospital (5,400) and Cleveland Clinic Akron (4,500)
PROPERTY FACTS
| No. Units | 42 | Building Size | 21,248 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1994 |
| Building Class | C | Parking Ratio | 1.35/1,000 SF |
| Lot Size | 0.74 AC | ||
| Zoning | Commercial | ||
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.74 AC |
| Building Size | 21,248 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1994 |
| Parking Ratio | 1.35/1,000 SF |
| Zoning | Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Kitchen
- High Speed Internet Access
- Range
- Tub/Shower
- Breakfast Nook
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 29 | $850.00 | 634 |
| 4+2 | 12 | $1,250 | 1,053 |
| 1+1 | 1 | $775.00 | 400 |
PROPERTY TAXES
| Parcel Number | 68-57663 | Improvements Assessment | $752,826 |
| Land Assessment | $45,875 | Total Assessment | $798,701 |
PROPERTY TAXES
Parcel Number
68-57663
Land Assessment
$45,875
Improvements Assessment
$752,826
Total Assessment
$798,701
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