Todd Keith

Five Stream Ventures LLC
972-836-7705

Discounted Investment Opportunity

2 Unit Duplex

1649 Shatto Avenue, 
Akron, Ohio 44313

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com

Table of Contents

    
Contents
Table of Contents    1
Investment Opportunity    2
Income and Expenses    2
Property Description    3
Property Highlights    3
Confidentiality    4
Disclaimer    4
Contact Information    5

This Property is offered for sale to qualified Buyers. Proof of funds is required with all offers.
Additional photos available upon request.

Investment Opportunity

Purchase Price:  $75,000                       Cost per door:  $37,500 

Building Class:    C

Location Class:   C 

Investment Benefits 

?    Solid Cash-Flowing Property
?    Pro forma cap rate 11.50%
?    Pro Forma cash on cash return 23.6%
?    5-year annual ROI 28.1% 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
?    14-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: 8.90% 
?    Akron is one of the top Real Estate markets in Ohio
?    $6,677 actual NOI 
?    $8,625 Pro Forma NOI
?    18 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
?    26 Minute drive to Kent State University (with an enrollment of 40,000 students/year)
?    

Opportunity:  Excellent opportunity for an investor to get on board with a stable property which offers a significant upside with rent increases.

Status:  Under contract by Todd Keith.  New Buyer will be assigned contract at close.  

Income and Expenses

Current Unit Mix & Income:

# of Units    Type    Market Rent
2    2 BDR/1 BA    $683
                            
Subject Property Current Rents:  $550 to $625 per month.   Actual rents are provided in the Rent Roll.

Income    Pro-Forma
Monthly Potential Income    $1,366
Gross Scheduled Income    $16,392
  Less Vacancy (10%)    (820)
  Less Expenses (45%)    (6,947)
Net Operating Income    $8,625

Property Description

Number of Units:  2

Style:  Two-story

Utilities:  Owner pays for water and sewer while tenants pay for electricity and gas.

Roof:  Pitched Asphalt Shingles

Construction:  Wood Frame

Current Occupancy:  100%
                     
Building Square Footage:  1,500 sqft

Land Acreage:  0.13 acres

Built:  1959

Property Highlights

?    Class B property in a Class B area. 
?    14 min drive to University of Akron (with an enrollment of 27,000 students/year) 
?    26 min drive to Kent State University (with an enrollment of 40,000 students/year) 
?    18 min drive to Akron Fulton International Airport 
?    13 College & Universities within commuting distance and 32 others within a 50-mile radius. These are the following: Firestone Community Learning Center, The Lippman School, King Community Learning Center, Portage Path CLC Elementary School, Herberich Primary School, St. Hilary School, Discovery Montessori School, Summit Christian School, Old Trail School, Julie Billiart School, and Our Lady of the Elms School    
?    Restaurants and cafés nearby are the following: Valley Café Restaurant, D’Agnese’s Trattoria and Café, Poke Fresh, Park West Café, Aladdin’s Eatery West Market, Pavonna’s Pizza Joint, Eye Opener, Rockne’s Pub Akron, Café Bricco, Kiflis Bakery & Café, Molly Browns Café LLC, Niko’s Sandwich Board, Einstein Bros. Bagels, First Watch- Fairlawn, Big Eye Japanese Cuisine & Sushi Bar, Fire Leaf | Ramen & Wok, Swensons (West Akron) Drive-in Restaurant, City Barbeque and Catering, First Watch- Portage Crossing, and Wally Waffle
?    Close to supermarkets or malls like West Market Place Shopping Center, Giant Eagle Supermarket, Fairlawn Plaza Shopping Center, Westgate Plaza, Solon Mall Shopping Center, Arlington Ridge Marketplace, Portage Crossing Shopping Center, Summit Mall, Walmart, Walmart Supercenter, Chapel Hill Mall, and Malley's Chocolate
?    Near to medical centers namely Akron General Medical Centers, Summa Health System, and Western Reserve Hospital
 

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 Todd Keith.

Disclaimer

Todd Keith 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.  Todd Keith 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 phone number or email address listed below if you are an interested party, or if you require further information.

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com