1894-1898 Springfield Lake BLVD, Akron, OH 44312
1894-1898 Springfield Lake BLVD, Akron, OH 44312
1894-1898 Springfield Lake BLVD, Akron, OH 44312
1894-1898 Springfield Lake BLVD, Akron, OH 44312
1894-1898 Springfield Lake BLVD, Akron, OH 44312
1894-1898 Springfield Lake BLVD, Akron, OH 44312
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Shawana Hanson

Shawana Hanson

+1(216) 971-3161
$ 1,900,000
Est. payment | /mo

0.93 Acres Lot

Save
$ 1,900,000
Est. payment | /mo
Save

0.93 Acres Lot

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Subdivision Springfield

MLS Listing ID 5201659

HOA Y/N No

Year Built 2002

Annual Tax Amount $50,048

Tax Year 2025

Lot Size 0.930 Acres

Acres 0.93

Property Sub-Type Other

Property Description

Rare opportunity to acquire a beautifully maintained, modern 24 unit apartment community in the desirable Ellett area, conveniently located near major highways, dining, and shopping. The apartment community has a strong unit mix of six one bedroom units and eighteen two bedroom units. Each unit has a sunny an open kitchen and living room, and all one bedroom units feature walk in closets, while select two bedroom units also include spacious walk in closets. Tenants pay electric (HVAC and water tanks are electric), owner pays water/trash/sewer. The property has seen substantial capital improvements, including new roofs and siding on both buildings completed in 2023. Since 2019, upgrades include 13 new HVAC systems, 9 new hot water tanks, updated flooring in 13 units, and numerous new kitchen appliances. Residents enjoy flexible laundry options with both a common area coin operated facility and in unit washer/dryer hookups. Situated on a spacious lot along a quiet residential street, the property offers ample off-street parking for tenants. With consistently low vacancy, this asset presents an excellent investment opportunity that offers a considerable upside potential on rent growth.

Location

State OH

County Summit

Interior

Heating Electric, Forced Air, Heat Pump

Cooling Central Air

Fireplace No

Exterior

Parking Features On Site, Paved

Water Access Desc Public

Building

Story 2

Sewer Public Sewer

Water Public

Schools

School District Akron Csd - 7701

Others

Tax ID 6859302

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW
Listed by Kelly M Wise Buzek • RE/MAX Market Solutions • kellywiseproperties@gmail.com, 330-907-4100

NEARBY SCHOOLS & PROPERTIES

Shawana Hanson

"Whether you're looking to purchase your first home, dream home, investment property, and/or sell your current home, I am committed to providing you with high-quality bespoke services."

+1(216) 971-3161

info@luxehauscle.com

1991 Crocker Rd. Suite 600, Westlake, OH 44145, United States

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1894-1898 Springfield Lake BLVD