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Excellent investment opportunity in Akron! This 10-unit multifamily property features ten one-bedroom, one-bath units and is currently 90% occupied, with an accepted applicant for the remaining vacant unit. Each unit is equipped with its own mini-split heating and cooling system, providing efficient individual climate control. Significant improvements include a new septic system installed in 2025 at a cost of approximately $75,000, along with a durable metal roof. The property is serviced by well water and offers plenty of convenient on-site parking. Tenants are responsible for their own gas and electric, with the exception of Unit 1. Because Unit 1's electric service currently powers the property's well and septic systems, electricity for that unit is included in the rent. The property is professionally managed by CRPM, providing an established management structure already familiar with the property, tenants, and day-to-day operations. CRPM is happy to continue providing professional management services for the new owner, offering the opportunity for a seamless transition following closing. With strong existing occupancy, an accepted applicant for the remaining unit, major infrastructure improvements already completed, and professional management already in place, this property presents an attractive opportunity for an investor looking to add a stabilized multifamily asset to their portfolio.

Highlights

  • Commercial Sale
  • Apartment
  • Built in 1948
  • 0.994 Acre Lot
  • 55 days on Market

  • Year Built
    1948
  • Stories
    1.0
  • Parking Features
    Off Street, On Site, Direct Access
  • Cooling
    Ductless
  • Heating
    Heat Pump
  • Basement
    None

  • Acres
    0.994
  • Water
    Well


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Frequently Asked Questions

How do I schedule a tour of 1842 Grace Rd?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 1842 Grace Rd.

They know commercial sales in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 1842 Grace Rd?

Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $505,000. We can talk through recent upgrades, potential seller motivation, how this apartment compares to others in Akron, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 1842 Grace Rd?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 1842 Grace Rd at around $3,281. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 1842 Grace Rd?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Summit County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 1842 Grace Rd?

In most cases, yes. Whether 1842 Grace Rd is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Akron's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 1842 Grace Rd?

We can handle that for you. Our preferred local agent specializes in commercial sales in Akron and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

How long has this property been on the market?

1842 Grace Rd was listed on September 18, 2026, which means it's been on the market for 55 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1948, making it approximately 78 years old.

What is the lot size of this property?

1842 Grace Rd sits on a 0.99-acre lot, which is 43,124 square feet.

What are the property taxes for 1842 Grace Rd?

The most recent public record shows annual property taxes for 1842 Grace Rd were approximately $4,882. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 1842 Grace Rd still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Listing information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Copyright 2026, MLS Now. All rights reserved.

Last Updated: November 12, 2026 at 12:47AM | Source: MLS Now | MLS#: 5246089