Log In/Sign Up
Your email has been sent.
Spicer Cross 459-469 Spicer St 45 Unit Apartment Building For Sale Akron, OH 44311
Investment Highlights
- Owned and self-managed by out of town partnership
- Currently 80% occupied despite 95% market occupancy
- U 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 2000’s construction steps away from University of Akron and Downtown
- Nearly all units renovated with luxury vinyl plank flooring, new white appliances, and bathroom vanities
- Within 1.5 miles of 3 major hospitals – Summa Health (6,200 employees), Akron Children’s Hospital (5,400 employees) and Cleveland Clinic Akron (4,500)
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$450,557
|
$17.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$450,557
|
$17.62
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$261,126
|
$10.21
|
| Net Operating Income |
$189,431
|
$7.41
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $450,557 |
| Annual Per SF | $17.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $450,557 |
| Annual Per SF | $17.62 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $261,126 |
| Annual Per SF | $10.21 |
| Net Operating Income | |
|---|---|
| Annual | $189,431 |
| Annual Per SF | $7.41 |
Property Facts
| Sale Type | Investment | Lot Size | 0.20 AC |
| No. Units | 45 | Building Size | 33,200 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1981/2005 |
| Building Class | B | Parking Ratio | 1.36/1,000 SF |
| Sale Type | Investment |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 33,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1981/2005 |
| Parking Ratio | 1.36/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Maintenance on site
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 27 | $895.00 | 800 |
| 1+1 | 16 | $995.00 | 600 |
| 3+2 | 2 | $1,300 | 1,000 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $385,449 | |
| Land Assessment | $34,249 | Total Assessment | $419,698 |
Property Taxes
Parcel Numbers
Land Assessment
$34,249
Improvements Assessment
$385,449
Total Assessment
$419,698
1 of 11
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
