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232 Cole Ave 6 Unit Apartment Building $682,179 CAD ($113,697 CAD/Unit) 9.78% Cap Rate Akron, OH 44301
Investment Highlights
- Stable Cash Flow: 100% occupied with reliable tenants through one organization “Harmony House” producing an NOI of $48,406.
- Attractive Returns: Offered at $495,000, this property delivers an 9.8% cap rate
- Historic Character, Modern Upgrades: Originally built in 1928, the building combines vintage architecture with contemporary finishes.
- Turn-Key Asset: Fully renovated in 2024 — modern systems and updated interiors
- Low Operating Costs: 15 year Real estate tax abatement available by application to the city of Akron with minimal ongoing expenses due to extensive re
- Hands-Off Ownership: Ideal for Investors seeking a stabilized, income-producing asset.
Executive Summary
Location: 232 Cole Ave, Akron, OH 44301
Sale Price: $495,000
Building Size: 5,040 SF
Year Built: 1928
Year Renovated: 2024
Tenancy: Fully Occupied
RE Taxes: 15 Year Tax abatement available through the City of Akron
Location: Akron, OH
NOI: $48,406
Sale Price: $495,000
Building Size: 5,040 SF
Year Built: 1928
Year Renovated: 2024
Tenancy: Fully Occupied
RE Taxes: 15 Year Tax abatement available through the City of Akron
Location: Akron, OH
NOI: $48,406
Property Facts
| Price | $682,179 CAD | Building Class | C |
| Price Per Unit | $113,697 CAD | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 6,468 SF |
| Cap Rate | 9.78% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1928/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.79/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | U-1 - Multifamily | ||
| Price | $682,179 CAD |
| Price Per Unit | $113,697 CAD |
| Sale Type | Investment |
| Cap Rate | 9.78% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 6,468 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1928/2024 |
| Parking Ratio | 1.79/1,000 SF |
| Zoning | U-1 - Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,447 CAD | - |
| 2+1 | 4 | $3,790 CAD | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 67-46984 | Improvements Assessment | $66,753 CAD |
| Land Assessment | $8,013 CAD | Total Assessment | $74,765 CAD |
Property Taxes
Parcel Number
67-46984
Land Assessment
$8,013 CAD
Improvements Assessment
$66,753 CAD
Total Assessment
$74,765 CAD
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232 Cole Ave
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