This Multifamily Property is no longer advertised on LoopNet.com.
548 E Summit St
Kent, OH 44240
Best in Market KSU Student Housing Location · Multifamily Property For Sale
·
42 Units
INVESTMENT HIGHLIGHTS
- Genesis Kent II is a 43 unit / 77 Bed student housing community with a best in market location serving 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 Kent II 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 YoY.
- Offered 93% occupied and is the best located community in the market being steps away KSU and a short three-minute walk to downtown.
- Kent's rental market is over 99%+ occupied for both student housing and multifamily providing a large runway for both occupancy and rate growth.
PROPERTY FACTS
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.29 AC |
| Building Size | 35,532 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built/Renovated | 1965/2023 |
| Parking Ratio | 1.46/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Storage Space
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
- Views
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Elevator
- Walk-Up
PROPERTY TAXES
| Parcel Numbers |
Multiple
|
Improvements Assessment | $1,123,850 |
| Land Assessment | $66,160 | Total Assessment | $1,190,010 |
ZONING
| Zoning Code | R-3, High Density Res (Multifamily Dwellings) |
Listing ID: 27616119
Date on Market: 1/27/2023
Last Updated:
Address: 548 E Summit St, Kent, OH 44240
The Downtown Kent Multifamily Property at 548 E Summit St, Kent, OH 44240 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
