50
See all 50 photos
$540,000
Est. payment /mo
7,501 Sqft Lot
New
51 Cotter AVE Akron, OH 44305
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Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Ambrose Cotter Farm
MLS Listing ID 5239870
HOA Y/N No
Year Built 1914
Annual Tax Amount $9,757
Tax Year 2025
Lot Size 7,501 Sqft
Acres 0.1722
Property Sub-Type Apartment
Property Description
Twelve-unit, two-building multifamily in Akron's Middlebury neighborhood, offered at $540,000, or $45,000 per door, with all twelve units occupied. 51 Cotter holds four units and 55 Cotter holds eight, side by side, sharing a rear lot with off-street parking and a detached outbuilding, so a buyer runs the whole position on one drive and one management contract. The mix is ten one-bedrooms, one two-bedroom and a studio. Average in-place rent is $708, while the two units already brought to a modern finish are leased at $800 and $850, which is where the upside comes from and why it does not depend on a market assumption. Wood-frame century buildings with covered porches, bay windows and rear decks. Several units carry newer flooring, cabinetry and tile work, the balance are original and turn cosmetically. Landlord pays water, sewer and trash. In-place NOI runs just over $58,000, roughly a 10.8 percent cap at the ask. Two miles from the University of Akron between the Summa campus and the East End development. Full rent roll, trailing financials and lease detail are available in the Document Center. Reach out for the package and to get on the tour schedule.
Location
State OH
County Summit
Interior
Heating Gas
Cooling None
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Akron Csd - 7701
Others
Tax ID 6720812
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com, 216-870-8687
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