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228 Cole Avenue, Akron, OH 44301

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For Sale

$149,999

6 beds • 6 baths • 5,670 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • $26.45
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

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.
MLS# 5138010

Courtesy Of Chervenic Realty Inc

(330) 836-4300

Property Features

  • Age
    Over 50 Years Old
  • Exterior Type
    Brick
  • Heating System
    Steam
  • Lot Size
    0.13 Acres
  • Roof Type
    Asphalt
  • Rooms
    Basement

Map and Directions

Directions to 228 Cole Avenue, Akron, OH 44301

Home seller CENTURY 21 Carolyn Riley Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Carolyn Riley Realty

(330) 867-4266
Learn More About Us

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† Based on a 30-year fixed rate of 3.38% 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. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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