352 Mcgowan ST Active Save Request In-Person Tour Request Virtual Tour
Akron,OH 44306
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,016 sqft
Price per Sqft $83
Subdivision Portage
MLS Listing ID 5113755
Bedrooms 5
Full Baths 4
HOA Y/N No
Abv Grd Liv Area 2,016
Year Built 1928
Annual Tax Amount $2,691
Tax Year 2024
Lot Size 3,084 Sqft
Acres 0.0708
Property Sub-Type Quadruplex
Property Description
Turnkey investment with tenants in place in 3 units. Rents are under market and tenants know rent will be increased. They are all month-to-month. Some units need improvement but everything is functional. Landlord pays all utilities but they are very reasonable. 36 hours notice to view occupied units. Cap rate is nearly 10% at existing rents. When rents go to market rate, the cap rate will increase dramatically. Owner pays annually for: Insurance $1,066, Gas $1,124, Electric $1,711, Water/sewer $1,800, trash $900, taxes $2,691. Once the rents are increased to market rent the cap rate jumps to 18%.
Location
State OH
County Summit
Interior
Heating Forced Air,Gas
Cooling None
Fireplace No
Appliance Range,Refrigerator
Laundry In Basement
Exterior
Parking Features No Garage,Off Street,On Street
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Story 3
Foundation Block
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Akron Csd - 7701
Others
Tax ID 6707459
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional