2347-2349 Nicholas Avenue, Akron, OH 44305

Property Description

Versatile multifamily opportunity in Akron with strong income and value-add potential. This fully occupied triplex offers immediate cash flow with long-term tenants in place, while presenting an excellent opportunity to increase rents—two of the units (2347 up and down) have not had rent increases since the sellers purchased the property. The property features three units: 2347 Lower – 1 bedroom, 1 bathroom, utility room, living room, and kitchen. 2347 Upper – 2 bedrooms, 1 bathroom, living room, kitchen, and sliding door access to a fenced backyard. 2349 Unit – 2 bedrooms, 1 bathroom, kitchen with laundry area, and a bright living room. The 2349 unit has been remodeled, including upgraded windows in 2026. The 2347 units have had HVAC updates 4/22/2021, but limited additional improvements due to below-market rents—offering significant upside for the next owner. Additional highlights include a large paved parking area for tenant convenience and two units with washer/dryer hookups. Kitchens in all units include a range and refrigerator, which will transfer with the sale. Expenses are manageable, with the landlord currently paying approximately $250/month for city utilities (water, sewer, and trash) for the entire building. Major updates include the roof (2012), furnaces believed to be under 6 years old, and hot water tanks approximately 10 years old (ages are estimates, not guaranteed). All units are currently leased on a month-to-month basis, providing flexibility for rent adjustments or future improvements. Conveniently located near major routes, shopping, and local amenities, this property presents a compelling opportunity for investors seeking cash flow, portfolio expansion, or a value-add project. Property is being sold AS IS. Investor special with strong upside—don’t miss the opportunity to unlock this property’s full potential!