347 Cleveland Street Akron, OH $ 1,090,000
347 Cleveland Street
$ 1,090,000
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347 Cleveland Street

Akron, OH, 44306
$ 1,090,000
Bedrooms-- Baths--

Monthly Estimate*

$ 6,528

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Commercial Property for sale in Akron, OH

for $1,090,000. This building was built in 1918 on a lot size of 1.1226.

An extremely rare opportunity awaits with this 11-property (12-unit) portfolio, offering fully turnkey investments! This package consists of 11 single-family homes and a duplex, all strategically located in desirable Akron and Canton neighborhoods making management a breeze! Each property has been recently renovated, with many receiving cosmetic updates like fresh paint, new flooring, updated fixtures, and light kitchen and bathroom upgrades. The majority of units are tenanted with reliable Section 8 tenants, providing consistent cash flow. Currently, five properties are being marketed for rent and are expected to be occupied before closing, ensuring a smooth transition. Once fully occupied, the portfolio boasts an impressive cap rate of over 9%—a rare find for updated properties. This opportunity offers strong double-digit cash-on-cash returns, making it ideal for savvy investors looking to add high-performing assets to their portfolio!

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Commercial Active

Price

$ 1,090,000

Property Type

Commercial

Taxes

$ 11,309

Style

Lot Size

1.1226

Year Built

1918

Town/City

Akron

County/Region

Summit

MLS | Web ID

5079887

Features
General
Sewer PublicSewer
Heating ForcedAir Gas
Possession DeliveryOfDeed
Year Built 1918
Township Akron
Property SubType Other
Tax Year 2023
Additional Parcels Description 233596 225332 6807275 6826419
County Summit
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Subdivision Name Vandalia Heights
Garage Y/N N
Status Active
Directions Various locations in Canton and Akron
City Akron
Senior Community Y/N N
High School District Akron CSD - 7701
NumberOfUnitsTotal 12
Lot Size Units Acres
Waterfront Y/N N
Carport Y/N N
Electric On Property Y/N N
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 11309.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Living Area Units SquareFeet
Standard Status Active
Middle/Junior School District Akron CSD - 7701
Elementary School District Akron CSD - 7701
Year Built Source PublicRecords
Property Sub Type Additional Other
Legal Description VANDALIA HTS LOT 72 ALL
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Exterior
Water Source Public
Lot Size Area 1.1226
Spa N
Lot Size Acres 1.1226
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Main Level Bathrooms 0
Total Baths 0
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Internal Only
Street Number 1 347
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* Excluded Features
List By
Tal Tamir

Listing Agent

Russell Real Estate Services

Broker

tal@premierclevelandinvesting.com

Email

Affordability Calculator

$7,471
Per Month
87%
13%
0%
Monthly Principal & Interest
$6,528
Monthly Property Taxes
$942
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4457648 Elementary School
4457391 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/23/2024$1,090,000 Listed Price

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347 Cleveland Street, Akron, OH, 44306 is a Commercial Property for sale at $1,090,000 with a lot size of 1.1226. 347 Cleveland Street was built in 1918. The property's zip code is 44306 which is in Akron, OH