2547 Manchester RD Active

Akron,OH 44319

$ 1200000

- Bed

0 Bath

0 SqFt


Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Nesmith Lake Heights

MLS Listing ID 5054648

Year Built 1976

Annual Tax Amount $12,884

Tax Year 2023

Lot Size 0.458 Acres

Property Description

18 units, all 1 bedroom, 1 bath. Ample on-site parking. No interior common areas or halls, all entrances are garden entrances. Renovated throughout and market ready. Over $80,000 in capital improvements in the last 18 months. Area market rents are $795-825 + electric. Owner pays water/sewer/trash and gas to heat (boiler) and HWT. Ideal location close to many amenities, highway access and near the bus route. This is a turn-key well-performing investment opportunity with more room for improvement. Purchased in disrepair and stabilized in condition and tenancy, it will cashflow for you from day-1. Professional property management in place with few vacancies being marketed to new residents at $795+electric per unit per month. This is an ideal location for additional subsidized rents through AMHA and the HUD/VASH programs. The property?s zip code qualifies it for higher rent rates, being in a zone for opportunity for AMHA. The location of this building is ideal as it is close to highways, central akron, and many manufacturing facilities, as well as the popular Portage Lakes. The current property managers are happy to continue service as they work to get the building fully occupied, or it can be transferred with the sale.

Location

State OH

County Summit

Interior

Heating Gas

Exterior

Garage Asphalt

Building

Sewer Public Sewer

Water Public

Schools

School District Akron Csd - 7701

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