110 8th Street North-West, Barberton, Ohio
Presented By:
Todd Keith
Five Stream Ventures LLC
972-836-7705
$ Click for current price
4 BEDROOMS | 2 Baths (2 full ) BATHROOMS | 1,588 SqFt
Discounted Investment Opportunity
2 Unit Duplex
110 8th Street North-West
Barberton, Ohio 44203
Offered by:
Todd Keith
(214) 395-0804
Todd@FiveStreamVentures.com
Table of Contents
Table of Contents 1
Investment Opportunity 2
Property Description 3
Income & Expenses (Actual and Pro Forma) 3
Property Highlights 4
Property Photos 4
Confidentiality 4
Disclaimer 4
Contact Information 5
Investment Opportunity
Purchase Price: $53,000 Cost per door: $26,500
Building Class: C
Location Class: C
Investment Benefits
? Solid Cash-Flowing Property
? Pro forma cap rate 18.48%
? Pro Forma cash on cash return 54.0%
? 5-year annual ROI 58.4% per year
? Great Investment Opportunity
? Excellent Professional Property Management company available
? Great Location: Akron, OH is part of the larger Cleveland-Akron-Canton OH Metropolitan Area with a population of 3,500,000
? 18-minute drive to University of Akron (with an enrollment of 27,000 students/year)
? Akron is a 3-time winner of the All-American City Award
? Akron is one of the fastest growing communities in the nation
? Room for rent increases
? More possible value plays
? Nationally ranked hospitals, including Akron Children’s Hospital, Akron General Medical Center and Summa Health System
? 13 College & Universities within commuting distance
? Management Value Play – Mismanaged Property
? Cap Rate on Actuals: 11.43%
? Akron is one of the top Real Estate markets in Ohio
? $6,060 actual NOI
? $9,793 Pro Forma NOI
? 14 Minute drive to Akron Fulton International Airport
? Perfect Starter multifamily deal
? Major Employers: Goodyear Tire Co., Firestone Tire Co., Gojo Industries, University of Akron, Kent State University, Akron Health System, Summa Health System, Akron Medical Center, Akron Public Schools, Akron Children’s Hospital, AmeriChem, Atlantic Foundry Company, FirstEnergy, Time Warner Cable, First Merit Corp
? 28 Minute drive to Kent State University (with an enrollment of 40,000 students/year)
Number of Units: 2
Style: Two-story
Current Occupancy: 100%
Building Square Footage: 1,588 sqft
Lot Size: 5,600 sqft
Year Built: 1894
Opportunity: Excellent opportunity for an investor to purchase this mismanaged 5-unit property. Raise rents, lower utility expense, increase NOI.
Status: Under contract by Todd Keith.
This Property is offered for sale to qualified Buyers.
Property Description
Proof of funds is required with all offers.
Unit Mix & Rents:
Type # of Units Rent Market Rent
2 Bed / 1 Bath 1 $425 $583
2 Bed / 1 Bath 1 $375 $583
Number of Units: 2
Utilities: Tenants pay all utilities.
Roof: Pitched
Construction: Wood
Current Occupancy: 100%
Building Square Footage: 1,588
Income & Expenses (Actual and Pro Forma)
Income Actuals Pro Forma
Monthly Income $800 $1,166
Gross Scheduled Income $9,600 $13,992
Less Expenses $3,540 $4,199*
Net Operating Income $6,060 $9,793
*Pro Forma Estimate: Taxes, Insurance, Water,
Property Management & 5% Vacancy Estimate
Seller Financing Not Available
Property Highlights
? Mis-managed property could be a cash-flowing cow with proper management.
? Under market rents
? Class C property in a Class C area.
? Great investment property in Akron, OH which is a part of larger Cleveland-Akron-Canton OH Metropolitan Area with a population of 3,500,000+
? Akron is one of the top Real Estate markets in Ohio
? Two Fortune 500 companies have Head Quarters in Akron
? Projected Job Growth in Akron is over the next 10 years is 26.2%
? Stable rental neighborhood with opportunity for rent increases and further value creation
? 18 min drive to University of Akron (with an enrollment of 27,000 students/year)
? 28 min drive to Kent State University (with an enrollment of 40,000 students/year)
? 14 min drive to Akron Fulton International Airport
? 19 College & Universities within commuting distance and 32 others within a 50-mile radius
? Rental Increase Upside
? Close to freeway access, downtown Akron, University of Akron, and popular Highland Square
Property Photos
Photos available upon request.
Confidentiality
It is acknowledged by reader that information furnished in this Executive Summary is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious damage; therefore, reader agrees not to disclose it without the express written permission of Five Stream Ventures, LLC.
Disclaimer
Five Stream Ventures, LLC has prepared this Executive Summary, which contains brief, selected information pertaining to the business and affairs of the property. The information contained herein does not purport to be all inclusive nor does it purport to contain all of the information representative of the property. Five Stream Ventures, LLC nor any of its respective partners, officers, employees or agents makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein or otherwise expressed and conveyed and no legal liability is assumed or shall be implied with respect hereto.
Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions. Projections, especially, are based on various assumptions and subjective determinations as to which no guaranty or assurance is given.
Potential investors are recommended and urged to perform their own examination and investigation and not to rely on the information contained within this document or other materials otherwise provided.
Contact Information
Please contact me at the email address or number listed below if you are an interested party, or if you require further information. Proof of funds required with all offers.
Todd Keith
(214) 395-0804
Todd@FiveStreamVentures.com
