2141 17th St SW
- 6-unit multifamily asset located in Akron’s Kenmore neighborhood
- 100% occupied with in-place income from day one
- Year 1 pro forma NOI of $29,147
- Year 1 pro forma cap rate of 9.72%
- Year 1 pro forma cash-on-cash return of 14.33%
- Year 1 pro forma DSCR of 1.58
- Current monthly rent of $4,500 with pro forma market rent of $4,700
- Four 2-bedroom units and two studio units
- On-site laundry income potential
- Newer roof and updated exterior steel doors
- Updated kitchens, flooring, paint, and bathroom finishes
- Manageable 6-unit size for a local or regional owner-operator
- On-site/off-street parking and minimal landscaping requirements.
- Rent growth opportunity through continued rent alignment and hands-on management
- Positioned near Kenmore Boulevard, the University of Akron, Downtown Akron, and major southwest Akron corridors
- Located 2.5 miles from Amazon Fulfillment Center AKC1 at 2450 Romig Road
- Near the new Pfeiffer / Miller South school project at the former Kenmore High School site on 13th St SW
Property Description
2141 17th St SW is a 6-unit multifamily asset located in Akron, OH. The property is 100% occupied and provides investors with immediate in-place income, a straightforward operating profile, and a clear rent-alignment opportunity. The unit mix includes four 2-bedroom units and two studio units, supporting a balanced renter base while maintaining an affordable price point within the Kenmore rental market. The building features a durable brick exterior, on-site and off-street parking, on-site laundry, minimal landscaping requirements, a newer roof, and updated exterior steel doors. Interior updates include refreshed kitchens, flooring, neutral paint, and updated bathroom finishes. The investment thesis is centered on preserving occupancy, improving operating efficiency, capturing modest rent growth, and continuing to benefit from nearby neighborhood investment in Kenmore.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $300,000 |
| No. of Units: | 6 |
| Year Built: | 1928 |
| Opportunity Zone: | No |
| Price per unit: | $50,000 |
| Property Website | Click Here |
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