The property features a multi-unit building with a blue exterior and white trim, set against a backdrop of mature trees

The property features a two-story exterior with dark blue siding, white window frames, and covered entrances

1894-1898 Springfield Lake Boulevard photo 3

The property features a dark gray exterior with white trim, dark shingle roofing, and multiple windows

The property features a multi-unit residential building with a dark-colored exterior and a dark roof

+19 more

Laundry room with white walls, fluorescent lighting, and a light-colored door

The kitchen features wood cabinetry, white appliances, a double basin sink, and wood-look flooring

The living space features wood-style flooring, a kitchen with wood cabinetry and white appliances, and a window providing natural light

The property features a kitchen with wood cabinetry, a double basin sink, and a white dishwasher

Kitchen featuring wood cabinetry, white appliances, a window, and wood-look flooring

This living space features wood-style flooring and white walls, creating a bright atmosphere

The room features wood-look flooring and a window providing natural light

The property features wood-style flooring and white walls throughout the space

Room featuring rich wood flooring, bright white walls, and a window with blinds

This room features wood-look flooring, white walls, and a ceiling light fixture

Room featuring wood-look flooring, white walls, and a ceiling-mounted light fixture

This room features hardwood-style flooring, a window with blinds, and white walls

The property features a closet with white wire shelving and wood-style flooring

Room featuring wood-look flooring, a window with blinds, and white walls

This room features wood-look flooring, a window with blinds, and white walls with wooden trim

This room features light wood-look flooring, white walls, and a ceiling light fixture

This room features wood-look flooring, light-colored walls, and a closet with bi-fold doors

Bathroom featuring a vanity with a white countertop and wood cabinetry, a large wall-mounted mirror, and a shower-tub combination

24 photos

$1,900,000

1894-1898 Springfield Lake Boulevard

Akron, OH 44312

Listed by Kelly M Wise Buzek · RE/MAX Market Solutions

Bedrooms

N/A

Bathrooms

N/A

Living area

N/A

Year built

2002

About this home

Rare opportunity to acquire a beautifully maintained, modern 24 unit apartment community in the desirable Ellett area, conveniently located near major highways, dining, and shopping. The apartment community has a strong unit mix of six one bedroom units and eighteen two bedroom units. Each unit has a sunny an open kitchen and living room, and all one bedroom units feature walk in closets, while select two bedroom units also include spacious walk in closets. Tenants pay electric (HVAC and water tanks are electric), owner pays water/trash/sewer. The property has seen substantial capital improvements, including new roofs and siding on both buildings completed in 2023. Since 2019, upgrades include 13 new HVAC systems, 9 new hot water tanks, updated flooring in 13 units, and numerous new kitchen appliances. Residents enjoy flexible laundry options with both a common area coin operated facility and in unit washer/dryer hookups. Situated on a spacious lot along a quiet residential street, the property offers ample off-street parking for tenants. With consistently low vacancy, this asset presents an excellent investment opportunity that offers a considerable upside potential on rent growth.

Property details

MLS #: 5201659
Property type: Other
Subdivision: Springfield
Status: Active
Days on market: 104
On market date: N/A
Stories: N/A
Garage spaces: N/A
Lot size: 0.93 acres

Location

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Nearby schools

Within 10 miles · public school directory data (NCES)

ElementaryCharter

Greater Summit County Early Learning Center

1.05 mi away · Grades 0-4

Nearest school -- attendance-zone data not available here

2.0

Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating

Enrollment: 109
Student:teacher ratio: 18.2:1
District: Greater Summit County Early Learning Center

Middle

Hyre Community Learning Center

1.56 mi away · Grades 6-8

Nearest school -- attendance-zone data not available here

4.0

Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating

Enrollment: 708
Student:teacher ratio: 14.2:1
District: Akron City

High

Ellet Community Learning Center

1.98 mi away · Grades 9-12

Nearest school -- attendance-zone data not available here

4.0

Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating

Enrollment: 963
Student:teacher ratio: 13.6:1
District: Akron City

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Est. monthly payment

$11,592/mo

$380,000 down

$1,520,000 loan

Principal & interest$9,859

Property tax (est.)$1,583

Home insurance (est.)$150

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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 23 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.