167 Chittenden St
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167 Chittenden St
8 Unit Apartment Building For Sale Akron, OH 44306
Investment Highlights
- Fully occupied
- Close to Highway access and Public Transportation
- Off street Parking for Tenants
Executive Summary
Green Bridge Real Estate is proud to offer an 8 Unit Apartment building:
The Chittenden Apartments. Located at 167 Chittenden St Akron, OH 44306. For Sale! This complex has good bones, high occupancy and could benefit from continuing the current owner’s path of the right renovations between tenants. The property is an outstanding investment opportunity with upside potential! The Apartment consists of Six One-bedroom, One bathroom suites, Two Two-bedroom, One bathroom units. The exterior is brick and siding, approx. 6,394 Sq.Ft. MF building. The property was built in 1913 and located on 0.19 Acres. New/newer windows on the entire building.
Current Number of Occupied Units 8
Current Occupancy Percentage 100.0%
Current Gross Annual Rental Income $69,200
Current Net Annual Income: $42,496.96
Current Capitalization Rate on $449,000 Sales Price 9.46%
Price Per Unit on $449,000 Sale Price $56,125
Pro-Forma Gross Annual Income @100% Occupancy $80,040
Pro-Forma Net Annual Income @100% Occupancy $56,028
Pro-Forma Capitalization Rate on $449,000 Sales Price 12.47%
Current Percentage of Subsidy Tenants vs. Market Tenants 50%
Current Percentage of Subsidy based Income 50%
The Chittenden Apartments. Located at 167 Chittenden St Akron, OH 44306. For Sale! This complex has good bones, high occupancy and could benefit from continuing the current owner’s path of the right renovations between tenants. The property is an outstanding investment opportunity with upside potential! The Apartment consists of Six One-bedroom, One bathroom suites, Two Two-bedroom, One bathroom units. The exterior is brick and siding, approx. 6,394 Sq.Ft. MF building. The property was built in 1913 and located on 0.19 Acres. New/newer windows on the entire building.
Current Number of Occupied Units 8
Current Occupancy Percentage 100.0%
Current Gross Annual Rental Income $69,200
Current Net Annual Income: $42,496.96
Current Capitalization Rate on $449,000 Sales Price 9.46%
Price Per Unit on $449,000 Sale Price $56,125
Pro-Forma Gross Annual Income @100% Occupancy $80,040
Pro-Forma Net Annual Income @100% Occupancy $56,028
Pro-Forma Capitalization Rate on $449,000 Sales Price 12.47%
Current Percentage of Subsidy Tenants vs. Market Tenants 50%
Current Percentage of Subsidy based Income 50%
Property Facts
| Sale Type | Investment | Lot Size | 0.20 AC |
| No. Units | 8 | Building Size | 6,394 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built/Renovated | 1913/2019 |
| Building Class | C | Parking Ratio | 0.63/1,000 SF |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 6,394 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1913/2019 |
| Parking Ratio | 0.63/1,000 SF |
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
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PROPERTY TAXES
| Parcel Number | 67-49847 | Improvements Assessment | $59,458 |
| Land Assessment | $5,292 | Total Assessment | $64,750 |
PROPERTY TAXES
Parcel Number
67-49847
Land Assessment
$5,292
Improvements Assessment
$59,458
Total Assessment
$64,750
zoning
| Zoning Code | Walk Up 7-19 units (Walk Up Apts 7-19 units) |
| Walk Up 7-19 units (Walk Up Apts 7-19 units) |
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167 Chittenden St
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