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Sumner Point 406 Sumner St 42 Unit Apartment Building For Sale Akron, OH 44304
Investment Highlights
- Owned and self-managed by out of town partnership
- Currently 88% occupied despite 95% market occupancy
- U of Akron features nearly 15,000 students & 1,800+ employees with 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 from 3 major hospitals – Summa Health (6,200 employees), Akron Children’s Hospital (5,400) and Cleveland Clinic Akron (4,500)
Property Facts
| Sale Type | Investment | Building Size | 31,416 SF |
| No. Units | 42 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1994 |
| Apartment Style | Low-Rise | Parking Ratio | 1.27/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 0.74 AC | ||
| Zoning | C | ||
| 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 | 31,416 SF |
| Average Occupancy | 88% |
| No. Stories | 3 |
| Year Built | 1994 |
| Parking Ratio | 1.27/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C |
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 | $1,263 CAD | 600 |
| 4+2 | 12 | $1,790 CAD | 1,400 |
| 1+1 | 1 | $1,088 CAD | 400 |
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 68-57663 | Improvements Assessment | $1,056,840 CAD |
| Land Assessment | $64,401 CAD | Total Assessment | $1,121,240 CAD |
Property Taxes
Parcel Number
68-57663
Land Assessment
$64,401 CAD
Improvements Assessment
$1,056,840 CAD
Total Assessment
$1,121,240 CAD
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Sumner Point | 406 Sumner St
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