Log In/Sign Up
Your email has been sent.
Sumner Point 406 Sumner St 42 Unit Apartment Building $2,850,000 ($67,857/Unit) Akron, OH 44304
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)
FINANCIAL SUMMARY (ACTUAL - 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 (ACTUAL - 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 | $2,850,000 | Lot Size | 0.74 AC |
| Price Per Unit | $67,857 | Building Size | 21,248 SF |
| Sale Type | Investment | Average Occupancy | 95% |
| No. Units | 42 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1994 |
| Property Subtype | Apartment | Parking Ratio | 1.35/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | Commercial | ||
| Price | $2,850,000 |
| Price Per Unit | $67,857 |
| Sale Type | Investment |
| 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 |
| Opportunity Zone |
Yes |
| 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 |
1 1
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 68-57663 | Total Assessment | $798,701 |
| Land Assessment | $45,875 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $752,826 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
68-57663
Land Assessment
$45,875
Improvements Assessment
$752,826
Total Assessment
$798,701
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
1 of 7
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Sumner Point | 406 Sumner St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.