228 Cole Avenue, Akron, OH 44301

This solid all-brick multi-unit complex is just waiting for someone with an eye for opportunity, and a plan for updates. Featuring four one-bedroom apartments on the first and second levels, with the potential of converting the two second floor units to two-bedrooms. You’ll find two more one-bedroom units on the lower level. They’re not currently rentable and will need full renovation, but with vision, money, and a bit of elbow grease, they’re poised to become solid income producers. The building itself has great bones. The boiler is approximately four years old, and the classic brick construction stands as a testament to durability. The layout is straightforward and functional, making future upgrades simple to plan. Financially, there’s a lot to get excited about. Once updated, market rents for the upstairs units could reach around $900/month each, while the lower units could fetch roughly $700/month. Tenants pay their own electric and gas. Owner covers water. There’s a shared … read more …