352 Mcgowan ST Active Save Request In-Person Tour Request Virtual Tour
Akron,OH 44306
Key Details
Property Type Single Family Home, 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
Year Built 1928
Annual Tax Amount $2,691
Tax Year 2024
Lot Size 3,084 Sqft
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
Laundry In Basement
Exterior
Parking Features No Garage,Off Street,On Street
Roof Type Asphalt,Fiberglass
Building
Story 3
Foundation Block
Sewer Public Sewer
Water Public
Schools
School District Akron Csd - 7701
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional