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Sumner Point 406 Sumner St 42 Unit Apartment Building $3,942,661 CAD ($93,873 CAD/Unit) Akron, OH 44304
INVESTMENT HIGHLIGHTS
- Owned and self-managed by out of town partnership
- Currently 76.2% 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 1994 construction steps away from University of Akron and Downtown
- Nearly all units renovated with luxury vinyl plank flooring, new white appliances, and bathroom vanities
- 1.5 miles of 3 major hospitals – Summa Health (6,200 employees), Akron Children’s Hospital (5,400) and Cleveland Clinic Akron (4,500)
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| 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 (ACTUAL - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,942,661 CAD | Lot Size | 0.74 AC |
| Price Per Unit | $93,873 CAD | Building Size | 21,248 SF |
| Sale Type | Investment | Average Occupancy | 95% |
| No. Units | 42 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1994 |
| Property Subtype | Apartment | Parking Ratio | 1.35/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | Commercial | ||
| Price | $3,942,661 CAD |
| Price Per Unit | $93,873 CAD |
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.74 AC |
| Building Size | 21,248 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1994 |
| Parking Ratio | 1.35/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Kitchen
- High Speed Internet Access
- Range
- Tub/Shower
- Breakfast Nook
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 29 | $1,176 CAD | 634 |
| 4+2 | 12 | $1,729 CAD | 1,053 |
| 1+1 | 1 | $1,072 CAD | 400 |
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Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 68-57663 | Total Assessment | $1,119,523 CAD |
| Land Assessment | $64,302 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,055,221 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
68-57663
Land Assessment
$64,302 CAD
Improvements Assessment
$1,055,221 CAD
Total Assessment
$1,119,523 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Sumner Point | 406 Sumner St
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