228 Cole AVE new Save Request In-Person Tour Request Virtual Tour
Akron,OH 44301
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,670 sqft
Price per Sqft $26
Subdivision Cole Ave Allotment
MLS Listing ID 5138010
Bedrooms 6
Full Baths 6
Year Built 1928
Annual Tax Amount $5,511
Tax Year 2024
Lot Size 5,671 Sqft
Property Sub-Type Quadruplex
Property Description
This solid all-brick multi-unit complex is just waiting for someone with an eye for opportunity, and a plan for updates. Featuring four one-bedroom apartments on the first and second levels, with the potential of converting the two second floor units to two-bedrooms. You'll find two more one-bedroom units on the lower level. They're not currently rentable and will need full renovation, but with vision, money, and a bit of elbow grease, they're poised to become solid income producers. The building itself has great bones. The boiler is approximately four years old, and the classic brick construction stands as a testament to durability. The layout is straightforward and functional, making future upgrades simple to plan. Financially, there's a lot to get excited about. Once updated, market rents for the upstairs units could reach around $900/month each, while the lower units could fetch roughly $700/month. Tenants pay their own electric and gas. Owner covers water. There's a shared driveway and parking arrangement with the neighboring apartment complex (that's been updated), adding convenience for tenants. Two of the units are currently occupied and providing income. The seller is keeping showings easy on current renters: two vacant units and the basement are available for viewing up front, with the occupied units viewable for serious buyers. This property isn't move-in ready. It's make-it-your-own ready. For the right investor, it's a clear path to strong cash flow, all while adding lasting value to the neighborhood. Bring your plans, your contractor, and your imagination. This is the kind of property that rewards the ones willing to do the work.
Location
State OH
County Summit
Interior
Heating Hot Water,Radiator(s),Steam
Cooling None
Exterior
Parking Features Common
Roof Type Asphalt,Fiberglass
Building
Sewer Public Sewer
Water Public
Schools
School District Akron Csd - 7701
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard