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Bard (24 units) 670-680 Hancock Ave 24 Unit Apartment Building $1,450,000 ($60,417/Unit) 8.90% Cap Rate Akron, OH 44314
INVESTMENT HIGHLIGHTS
- Stable tenant base.
- 8% cap rate with upside potential.
EXECUTIVE SUMMARY
Investment Opportunity: two apartment buildings with 12 units each, in a convenient location. All 24 units are 1-bed / 1-bath, with common access to coin laundry facility. Several long-term tenants and some subsidized rents. Tenants pay electric including a/c wall units. Owner pays heat (boiler / gas), water, sewer, and trash.
The asking price reflects a discount for some deferred maintenance. An acceptable non-binding LOI is required prior to showing.
Please do not disturb the tenants.
The asking price reflects a discount for some deferred maintenance. An acceptable non-binding LOI is required prior to showing.
Please do not disturb the tenants.
FINANCIAL SUMMARY (PRO FORMA - 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 (PRO FORMA - 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 | $1,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $60,417 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.92 AC |
| Cap Rate | 8.90% | Building Size | 14,600 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 2.05/1,000 SF |
| Zoning | U2-H2-A3, Akron - multi-family (U-2) | ||
| Price | $1,450,000 |
| Price Per Unit | $60,417 |
| Sale Type | Investment |
| Cap Rate | 8.90% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.92 AC |
| Building Size | 14,600 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 2.05/1,000 SF |
| Zoning | U2-H2-A3, Akron - multi-family (U-2) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | $775.00 | 608 |
| 1+1 | 12 | $775.00 | 608 |
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PROPERTY TAXES
| Parcel Number | 68-46002 | Total Assessment | $199,179 |
| Land Assessment | $38,574 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $160,605 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
68-46002
Land Assessment
$38,574
Improvements Assessment
$160,605
Total Assessment
$199,179
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Bard (24 units) | 670-680 Hancock Ave
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