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Commercial Real Estate for Sale at 203 Crosby in Akron, OH for $3,400,000

Listing data last changed 07/09/2026 - 10:09pm
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203 Crosby | Akron

$3,400,000 | 0.0 Sq. Ft.

33 units across Greater Akron, listed at $3.4M, or $103,030 a door. Lease up the four units already under renovation and you are into a 9.3% cap with double-digit cash-on-cash. Push rents to market on turnover from there and it runs to a 10.3% pro forma. This is a stabilized, cash-flowing scattered-site portfolio that hands you double-digit returns once those units fill, not a paper story.\r\n\r\nThe portfolio is 17 single families, 8 duplexes, 6 triplexes, and 2 condos spread across Akron and a few surrounding communities. Every property was fully remodeled in the last five years, with updated electrical and plumbing throughout, many with new furnaces and water tanks, and 6 carrying new roofs. You will see normal tenant wear, but the heavy capital is already in the ground. Ten units are Section 8 today, so a meaningful piece of the rent comes in government-backed and steady.\r\n\r\nThe upside is clean. The four vacant units re-leasing is what carries you to the 9.3% stabilized figure. From there, rents sit about $100 a door under market, and you capture that on natural turnover, with the pro forma pushing cash-on-cash into the 17% range. Ancillary income adds about $6,300 a year on top.\r\n\r\nA good chunk of these sit in Akron\u0027s core rental neighborhoods, with a cluster in Highland Square, the walkable arts district built around the historic Highland Theatre and Mustard Seed Market. Akron runs on healthcare and education, with Summa Health, Cleveland Clinic Akron General, and the University of Akron anchoring steady tenant demand. It is one of the country\u0027s most affordable rental markets, about 40 miles south of Cleveland, and that low basis is what makes the yield work.\r\n\r\nClean, easy portfolio to run, and a strong double-digit yield play in a stable Midwest market. Request the full financials and dig in. MLSNow 5226160 Directions to property: Highland Square area, portfolio spread across Akron, Medina, and Cleveland

MLS Listing ID: 
MLSNow 5226160
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$3,400,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Akron
Address: 
203 Crosby, Akron, OH 44303
County: 
Summit
Latitude: 
41.0872310
Longitude: 
-81.5250340
Directions: 
Highland Square area, portfolio spread across Akron, Medina, and Cleveland
Public Remarks: 
33 units across Greater Akron, listed at $3.4M, or $103,030 a door. Lease up the four units already under renovation and you are into a 9.3% cap with double-digit cash-on-cash. Push rents to market on turnover from there and it runs to a 10.3% pro forma. This is a stabilized, cash-flowing scattered-site portfolio that hands you double-digit returns once those units fill, not a paper story.\r\n\r\nThe portfolio is 17 single families, 8 duplexes, 6 triplexes, and 2 condos spread across Akron and a few surrounding communities. Every property was fully remodeled in the last five years, with updated electrical and plumbing throughout, many with new furnaces and water tanks, and 6 carrying new roofs. You will see normal tenant wear, but the heavy capital is already in the ground. Ten units are Section 8 today, so a meaningful piece of the rent comes in government-backed and steady.\r\n\r\nThe upside is clean. The four vacant units re-leasing is what carries you to the 9.3% stabilized figure. From there, rents sit about $100 a door under market, and you capture that on natural turnover, with the pro forma pushing cash-on-cash into the 17% range. Ancillary income adds about $6,300 a year on top.\r\n\r\nA good chunk of these sit in Akron\u0027s core rental neighborhoods, with a cluster in Highland Square, the walkable arts district built around the historic Highland Theatre and Mustard Seed Market. Akron runs on healthcare and education, with Summa Health, Cleveland Clinic Akron General, and the University of Akron anchoring steady tenant demand. It is one of the country\u0027s most affordable rental markets, about 40 miles south of Cleveland, and that low basis is what makes the yield work.\r\n\r\nClean, easy portfolio to run, and a strong double-digit yield play in a stable Midwest market. Request the full financials and dig in.
Community Information
School District: 
Akron CSD - 7701
Building Details
Details about the building on a property.
Year Built: 
1884
Living Area: 
0.0
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Other
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.07
Lot Size (Area): 
0.07
Public Record
Parcel Number: 
6747549
Annual Tax: 
$46,782.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Russell Real Estate Services

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