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Spicer Cross 459-469 Spicer St 45 Unit Apartment Building For Sale Akron, OH 44311
Investment Highlights
- Owned and self-managed by out of town partnership
- Currently 80% occupied despite 95% market occupancy
- U 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
- Within 1.5 miles of 3 major hospitals – Summa Health (6,200 employees), Akron Children’s Hospital (5,400 employees) and Cleveland Clinic Akron (4,500)
Property Facts
| Sale Type | Investment | Lot Size | 0.20 AC |
| No. Units | 45 | Building Size | 33,200 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1995/2005 |
| Building Class | B | Parking Ratio | 0.46/1,000 SF |
| Sale Type | Investment |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 33,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1995/2005 |
| Parking Ratio | 0.46/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Maintenance on site
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 27 | $1,258 CAD | 800 |
| 1+1 | 16 | $1,398 CAD | 600 |
| 3+2 | 2 | $1,827 CAD | 1,000 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $545,449 CAD | |
| Land Assessment | $48,466 CAD | Total Assessment | $593,915 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$48,466 CAD
Improvements Assessment
$545,449 CAD
Total Assessment
$593,915 CAD
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Spicer Cross | 459-469 Spicer St
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