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This Multifamily Property is no longer advertised on LoopNet.com.
1494 Stratford Dr
Kent, OH 44240
Value Add Student Housing with Conversion Opp · Multifamily Property For Sale · 180 Units
Investment Highlights
- Genesis Kent is a 180 unit / 348 Bed Student Housing Community steps away from Kent State University.
- Kent State University enrolled 25,584 students for Fall 2022 and has delivered back-to-back years of First Time First Year Freshman enrollment.
- Genesis can continue to be rented as student housing or converted to conventional market rate apartments.
- Student housing and conventional market are 99% occupied and experienced an average 10% rental rate growth since Oct 2021.
- Currently 90% occupied and offers a large value add opportunity for a future investor through property upgrades.
- Recently underwent a capital campaign totaling over $3.6 million including new roofs, electric panels, repaving of the parking, and more.
PROPERTY FACTS
| Sale Conditions | Auction Sale | Lot Size | 23.40 AC |
| No. Units | 180 | Building Size | 212,644 SF |
| Property Type | Multifamily | Average Occupancy | 71% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1966/2023 |
| Building Class | B | Parking Ratio | 1.56/1,000 SF |
| Sale Conditions | Auction Sale |
| No. Units | 180 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 23.40 AC |
| Building Size | 212,644 SF |
| Average Occupancy | 71% |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2023 |
| Parking Ratio | 1.56/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Wi-Fi
- Attic
Site Amenities
- 24 Hour Access
- Fitness Center
- Property Manager on Site
- Pet Play Area
- Walk-Up
PROPERTY TAXES
| Parcel Numbers |
Multiple
|
Improvements Assessment | $3,678,570 |
| Land Assessment | $358,060 | Total Assessment | $4,036,630 |
PROPERTY TAXES
Parcel Numbers
Multiple
- 17-004-00-00-035-000
- 17-004-00-00-036-006
- 17-004-00-00-036-050
Land Assessment
$358,060
Improvements Assessment
$3,678,570
Total Assessment
$4,036,630
zoning
| Zoning Code | R-4, Multifamily Resident (Multifamily Dwellings) |
| R-4, Multifamily Resident (Multifamily Dwellings) |
Learn More About Investing in Apartment Buildings
Listing ID: 27616493
Date on Market: 1/27/2023
Last Updated:
Address: 1494 Stratford Dr, Kent, OH 44240
The Multifamily Property at 1494 Stratford Dr, Kent, OH 44240 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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