Todd Keith

Five Stream Ventures LLC
972-836-7705

Discounted Investment Opportunity

2 Unit Duplex

606 Cuyahoga Street, 
Akron, Ohio 44310

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

Table of Contents

    
Contents
Table of Contents    1
Investment Opportunity    2
Income and Expenses    3
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:  $45,000                       Cost per door:  $22,500 

Building Class:    C

Location Class:   C 

Investment Benefits 
?    Solid Cash-Flowing Property
?    Pro forma cap rate 30.01%
?    Pro Forma cash on cash return 42.5%
?    5-year annual ROI 44.3% 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
?    9-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: 0.00% (Due to 100% Vacancy)
?    Akron is one of the top Real Estate markets in Ohio
?    $0 actual NOI (Due to 100% Vacancy) 
?    $13,502 Pro Forma NOI
?    15 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
?    14 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

Subject Property Current Rents:  $0 per month. (Due to 100% Vacancy)   Actual rents are provided in the Rent Roll.

Income    Pro-Forma
Monthly Potential Income    $1,462
Gross Scheduled Income    $17,544
  Less Vacancy (10%)    (877)
  Less Expenses (45%)    (3,164)
Net Operating Income    $13,502

Property Description

Number of Units:  2

Style:  Two-story

Utilities:  Tenants pay for all utilities

Roof:  Pitched Asphalt Shingles

Construction:  Wood Frame

Current Occupancy:  0% or 100% Vacant
                     
Building Square Footage:  1,614 sq ft

Land Acreage:  0.31 acres

Built:  1894

Property Highlights

?    Mis-managed property could be a cash-flowing cow with proper management. 
?    Under market rents
?    Owners pay all utilities currently – Opportunity to recapture utility cost
?    On the edge of trendy Highland Square neighborhood
?    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 
?    Stable rental neighborhood with opportunity for rent increases and further value creation 
?    9 min drive to University of Akron (with an enrollment of 27,000 students/year) 
?    15 min drive to Akron Fulton International Airport 
?    13 College & Universities within commuting distance and 32 others within a 50-mile radius: North High School, King Community Learning Center, Harris-Jackson Community Learning Center, IPromise School, Findley Elementary School, Forest Hill Elementary School, Harris- Jackson Elementary School, Chapel Hill Christian School(North Campus), St. Vincent-St. Mary High School, Jennings Community Learning Center, St. Joseph Parish: Church & School, Dewitt Elementary School, Bettes Elementary School, Towpath Trail High School, and Akron Public School.
?    Nearby restaurants are the following: Luigi’s Restaurant, Dante Boccuzzi Akron, Beau’s on the River, Aladdin’s Eatery West Market, Akron Family Restaurant, Wally Waffle, The Boulevard Tavern, The Tangier Restaurant & Cabaret, Swensons (North Akron) Drive-in, Five Guys, Frank’s Place on Market, Chick-fil-A, Rasicci’s Pizza, Kiflis Bakery and Café, LA Soul, Golden Dragon Chinese, O’Charley’s Restaurant & Bar, Chipotle Mexican Grill, Hibachi Japan, and ADT.
?    Close to malls/markets namely Summit Mall, West Market Place Shopping Center, Northside District, Fairlawn Town Center, The Plaza at Chapel Hill Shopping Center, Westgate Plaza, Streetsboro Market Square, The Shops of Fairlawn, and Southern Park Mall 
?    9 min drive Summa Health System- Akron (Hospital)
?    Close to freeway access, downtown Akron, University of Akron, and popular Highland Square

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