Bard (24 units) | 670-680 Hancock Ave
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Bard (24 units) 670-680 Hancock Ave
24 Unit Apartment Building $2,073,308 CAD ($86,388 CAD/Unit) 8.37% Cap Rate Akron, OH 44314
Investment Highlights
- Stable tenant base.
- 8% cap rate with upside potential.
Executive Summary
Investment Opportunity: two apartment buildings with 12 units each, in a convenient location. All 24 units are 1-bed / 1-bath, with common access to coin laundry facility. Several long-term tenants and some subsidized rents. Projected cap rate of 8% with room for improvement. Tenants pay electric including a/c wall units. Owner pays heat (boiler / gas), water, sewer, and trash.
The asking price reflects a discount for some deferred maintenance. An acceptable non-binding LOI is required prior to showing.
Please do not disturb the tenants.
The asking price reflects a discount for some deferred maintenance. An acceptable non-binding LOI is required prior to showing.
Please do not disturb the tenants.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,073,308 CAD | Apartment Style | Low Rise |
| Price Per Unit | $86,388 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.92 AC |
| Cap Rate | 8.37% | Building Size | 18,400 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1.58/1,000 SF |
| Price | $2,073,308 CAD |
| Price Per Unit | $86,388 CAD |
| Sale Type | Investment |
| Cap Rate | 8.37% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.92 AC |
| Building Size | 18,400 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.58/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 600 |
| 1+1 | 6 | - | 750 |
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PROPERTY TAXES
| Parcel Number | 68-46002 | Total Assessment | $277,785 CAD |
| Land Assessment | $53,797 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $223,988 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
68-46002
Land Assessment
$53,797 CAD
Improvements Assessment
$223,988 CAD
Total Assessment
$277,785 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | U2-H2-A3, Akron (multi-family (U-2)) |
| U2-H2-A3, Akron (multi-family (U-2)) |
-
Jack Marsillo -
Cutler Commercial Investment Group
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Bard (24 units) | 670-680 Hancock Ave
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