519 Crosby Street,Akron, OH 44302
Akron, OH 44302
Description
Listen, there are plenty of multifamily properties an investor can buy. The better question is: what can you actually do with it once you own it? That's where 519 Crosby Street gets interesting. This 13-unit Akron property has seen strategic updates over time, helping improve both the units and rental performance. Recent leasing at $815 per month shows where rents are moving-and at that rate across all 13 units, gross potential revenue approaches $127,140 annually. Nine of the 13 units are currently leased-roughly 70% occupancy. The remaining 30%? That's your opportunity to continue the stabilization. At the recently achieved $815 monthly rent, those four units represent approximately $39,120 in additional annual gross rental potential once leased. And there may be additional upside within the existing rent roll as the property continues to improve and rents are evaluated over time. There's still room to improve, and that's the opportunity. Now, let's talk location-because this is where the strategy gets fun. You're near the University of Akron, putting student and university-related housing in the conversation. Akron Children's Hospital and the surrounding medical community open the door to traditional, furnished, or mid-term housing. Prefer a voucher-based approach? HCV/Section 8 may be another lane worth exploring. Whether you're a seasoned investor or buying your first investment property, the path ahead is clear. With this much flexibility, it's hard to lose with an opportunity like this. So, look at the numbers-but look at the options, too.Come see the building. See the improvements. Look at where the property is today, and picture where you could take it tomorrow. Because months from now, somebody is going to own 519 Crosby Street. The only question is whether you'll be looking back wishing it had been you.
Details
| MLS # | 5239478 |
|---|---|
| Listing Type | For Sale |
| Style | Apartment |
| Sub-Type | Resale |
| Status | Active |
| Year | 1971 |
| Days On Site | 36 |
| Listing Provided By | Plum Tree Realty, LLC | Ebony B Davis |
Features
| SQ Feet | 11,326 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Units | 13 |
| Building(s) | 1 |
| Zoning | Multi-Family |
| Acreage | 0.26 |
Parking
| Parking Features | Parking Lot |
|---|
Taxes
| Tax Annual Amount | 13363.49 |
|---|
Area Information
| State | OH |
|---|---|
| County | Summit |
| City | Akron |
| Zip Code | 44302 |
| Listing VS Median (in 44302) | |
Price: $670,000 low | high Med: $152,500 sqft: 11,326 low | high Med: 1,569 $ / sqft: $59 low | high Med: $97 On site: 36 low | high Med: 69 | |
Market Activity 44302
Request a showing
Request a showing
Contact
Learn More About This Property
| State | OH |
|---|---|
| County | Summit |
| City | Akron |
| Zip Code | 44302 |
| Listing VS Median (in 44302) | |
Price: $670,000 low | high Med: $152,500 sqft: 11,326 low | high Med: 1,569 $ / sqft: $59 low | high Med: $97 On site: 36 low | high Med: 69 | |