2350-2360 Newton Street, Akron, OH 44305

Property Description

Akron multi-family investment opportunity in Ellet Schools (Betty Jane, Hyre, Ellet)! Total of 6 units located in 3 buildings. MUST ALL BE PURCHASED TOGETHER AT A PRICE OF $350,000. Each 2 unit sits on an individual parcel of land. Every unit is 1 bedroom and 1 bathroom with in-unit laundry. Vaulted ceilings in the living room and bedroom help the units feel more spacious. Windows on all buildings have been replaced approximately 6 years ago. All furnaces have been replaced approximately 6-8 years ago. New roof (2025) on 2358/2356, roof on 2350/2352 roughly 8 years old and roof on 2354/2356 roughly 10 years old. Akron water/sewer bill is paid by the owner ($318.57 average per month July 2024- July 2025 per City of Akron) and all 6 units are currently on one meter. Dumpster is shared with the 4 unit apartment next door- owner currently pays $50 per month for their half of the dumpster expense. All units have a wall or window mounted AC unit provided by the landlord. All units have a range and refrigerator provided by the landlord. Good off street parking available. Units produce a gross rent of $3,665 monthly ($43,980 per year) - currently being rented below market rate with great opportunity for cash flow growth. Unit 2354 is larger than the other units- but still consists of 1 bedroom, 1 bathroom. Lawncare currently provided by tenant. No snow removal provided. 2350 has a lease through March of 2026 and 2356 has a lease through November 2025. All other tenants are month to month. Addresses are 2350, 2352, 2354, 2356, 2358 and 2360 Newton St. Property must be sold to one owner- and at closing there will be deed restrictions that if any parcel is ever sold to individual buyers that water meters will be required to be split and metered for each parcel separately. See MLS attachments for more information.