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Spicer Cross Apartments 5 Multifamily Properties in Akron, OH
INVESTMENT HIGHLIGHTS
- Owned and self-managed by out of town partnership
- Currently 80% 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 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
- Located within 1.5 miles of 3 major hospitals – Summa Health (6,200 employees), Akron Children’s Hospital (5,400) and Cleveland Clinic Akron (4,500)
EXECUTIVE SUMMARY
45 Units in Akron, Ohio with 88.9% of units occupied. Strong value-add opportunity.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) Click Here to Access |
ANNUAL |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 63,352 SF |
| Number of Properties | 5 | Total Land Area | 1.10 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 63,352 SF |
| Total Land Area | 1.10 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Spicer Street Apartments
461 Spicer St, Akron, OH 44311 |
Multifamily | 25,568 SF | 1981 | - |
|
Cross Street Apartments
375 Cross St, Akron, OH 44311 |
Multifamily | 21,683 SF | 1978 | - |
| 467 Spicer St, Akron, OH 44311 | Multifamily | 6,600 SF | 2000 | - |
| 469 Spicer St, Akron, OH 44311 | Multifamily | 5,676 SF | 2000 | - |
| 459 Spicer St, Akron, OH 44311 | Multifamily | 3,825 SF | 1981 | - |
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CONTACTS
-
Michael Barron -
Charles Gagliano -
Justin Blanche -
Institutional Property Advisors
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Spicer Cross Apartments
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