1000 Florida Ave is our first property in Ohio, and we see enormous potential in it! This vintage brick multi-family contains 4 main units and another basement unit, making it a “4+1” quad-plex that sits adjacent to a beautiful park on a quiet residential street in the Kenmore neighborhood of Akron.
To realize this property’s potential, RealT is investing $50,000 in updates, repairs, and beautification over the next six months, with the intent of increasing the overall rent from $2425/month to $3300/per month. This will be bring the property in line with its local market, and should increase the Expected Yield of the property to almost 12% for initial investors! It will also allow us to bring the property up to Section 8 standards, which will allow us to secure rent-guaranteed tenants if that is appropriate.
To keep tabs on the ongoing renovations, please follow us on Discord and Telegram (English or French)!