Real estate blog entries tagged with akron by Sean Dreznin, Commercial Investment Real Estate Agent (Pappas Realty Co.)

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akron: Troppe gets Hands on another Downtown Akron Building --- "Thank Goodness!" - 06/12/09 11:18 AM

LANDMARK RESCUED Tony Troppe renovating historic Kaiser
Building for use as cafe, offices across from Canal Park
By Betty Lin-Fisher Beacon Journal staff writer
Photo credits (Ed Suba Jr./Akron Beacon Journal)
A downtown Akron building whose last owner lost it to foreclosure after a failed attempt to sell it on eBay … (1 comments)

akron: The Dark Angel of Akron drops some more Demonic News ~ #1-Chrysler plans to close dealerships #2-Forest City Enterprises reveals big job cuts #3-Shiloh Industries eliminating 111 jobs - 05/15/09 11:26 AM

#1-Chrysler plans to close 14 dealerships in Cleveland-Akron market
Northeast Ohio stands to lose 14 Chrysler dealerships from Elyria to Wadsworth, according to a U.S. Bankruptcy Court filing this morning by Chrysler LLC.
Dealerships targeted for closing include five Spitzer dealerships in Akron, Lakewood, Mayfield Heights, Parma and Sheffield Lake; three … (1 comments)

akron: Akron-area home values keep sliding - 05/07/09 07:10 PM

Report finds 24.8 percent of Summit, Portage owners have negative equity
Published on Thursday, May 07, 2009
This article from http://Ohio.com is a bit of a micro-view segue from the previous blog article. Zillow has plenty of research and commentary to show how Akron Residential is slowly rotting from the … (1 comments)

akron: You've got the whole city in your hands... Repeat (x4 times) (Sung to "Whole world in our hands") - 04/17/09 11:08 AM

Lebron James is the chosen one...
This is documented both by his self-proclaimed nickname and most likely substantiated by most Ohioans as well.

Now the hard part. This is the year for a championship for the most championship starved states in the entire 50. We are honoring Ohio State, but … (3 comments)

akron: Downtown Akron Office/Retail Building FOR SALE ** Impossible to Find Similar ** Motivated Sellers - 04/14/09 04:55 PM

… (2 comments)

akron: Photog Friday - 02/13/09 01:31 PM

This is a picture of the walkway crossing over Bowery St in downtown akron. You can see the original and the edited version.
I used picasa 3 for this and have been enthused with the results now and in the past with Picasas capabilities.
I used to utilize Dell, but after … (12 comments)

akron: Apts-for-Sale.com - 01/25/09 09:03 AM

I have used this site for years and although it, to my knowledge, has never paid a dividend, I enjoy the fact that only apartment complexes are listed on the site.
Ultimately, it appears some of the main administrators utilize national listing mediums, such as Wall Street Journal and For Sale … (3 comments)

akron: University of Akron - EJ Thomas Performing Arts Hall -- Upcoming Events - 01/19/09 08:33 AM

Upcoming Events
Jan 23 - Dirty Rotten Scoundrels Musical
Jan 27 - Bob the Builder Live
Feb 06 - Zoso: the Ultimate Led Zeppelin Experience
Feb 07 - Bye Bye Birdie: The National Tour
Feb 17 - Rain - The Beatles Experience … (0 comments)

akron: One way to determine value for Multi-Family Investments - 01/13/09 06:06 PM

NOI stands for NET OPERATING INCOME.
To get to NOI, you must first start with the Gross Income (rentals, laundry, etc) minus % for Vacancy which leaves the Adjusted Gross Income. Taking this number, you then apply the operating expenses (i.e. - Management, Maintenance, repairs, utilities, reserves, etc) … (1 comments)

akron: Home Sales. Prices Down --- Agents Cite Foreclosures - 12/18/08 09:48 PM

Of the 300+ homes sold in November in Summit County, almost 1/3 - (91) - went for less then $30,000.

That helps explain why November sales figures were dismal in the Akron area compared with a year ago, according to the latest report from the Akron Area Board of Realtors.
… (4 comments)

akron: "Cash is King" shout Commercial Agents - 12/09/08 01:38 PM

Cash is King versus the Battered Commercial Real Estate Market. This is the sentiment from Commercial Real Estate professionals affiliated with CCIM Institute.
The liquid position "Cash", tops other investments such as Office Buildings, Apartments, Retail Centers and other commercial properties.
According to the survey conducted, this is the first time … (0 comments)

akron: REDUCED ** Duplex ** Motivated Sellers ** Make Offer - 11/07/08 10:20 AM

Fully Occupied Duplex...
Make Offer
Asking $85,000 --- Reduced from $114,000 --- WILL ENTERTAIN ALL REASONABLE OFFERS!!!
PLEASE VISIT http://www.pappasrealtyco.com/Ohio_Commercial_Real_Estate_Leader_in_Investments_and_Apartments_listings/59E14B54-B9A3-DBC2-594C32480AD8FEF2.shtml

… (0 comments)

akron: REDUCED ** 102-Units ** Copley, Ohio ** $34,800 P/Unit - 10/30/08 08:03 PM

2113 Copley RoadApartments For Sale, OH 44321

Map Location Get Directions
Price: $3,550,000 Status: Active Agent: Sean Dreznin Email: sean@pappasrealtyco.com Phone: 330-762-0535 Ex# 16 Built in 1966, this complex has seen many updates including; Pitched Steel roofs * 30 Garages built in 1997 * Heat changed to electric baseboard … (0 comments)

akron: 713 Carroll St ** The University of Akron ** 5-Bdrm & 5-Bth Condo ** Professionally Managed ** Separate Utilties - 10/27/08 10:43 AM

Pro Forma
Projected Gross Income......$   15,600
Vacancy @ 5%..................($       800)
Adjusted Gross Income.......$   14,800
Expenses @ 30%   ...........($     4,400)
Projected NOI..................$      10,400
Projected Return...................   10.9%
Average Rent Per Mo/Unit..... ..$1,300

Buchtel Place Town Homes offer students the option of living near the University of Akron and all of its … (0 comments)

akron: Enough Already with the Taxes! - 10/26/08 09:21 AM

Our local government can't seem to get it through their head, that the economy is in a recession and instead they continue to employ way too many people, hemorrage money on wasteful projects and whine about needing levies on the ballot for more money for ill-budgeted schools and governmental and non-profit … (0 comments)

akron: 17-Unit Apartment Building ** 1724 Bailey Rd, Cuyahoga Falls, Ohio 44221 ** Tenants pay heat - 10/26/08 08:59 AM

1724 Bailey Rd, Cuyahoga Falls, Ohio 44221
17-Unit Apartment Building (12-2 Bdrms & 5-1 Bdrms)
Electric Heat - Tenants Pay
Property Details

… (0 comments)

akron: Apartments lose their immunity to the Housing Crisis' Viruses. - 10/26/08 08:43 AM

Job losses and rent declines stagger the market ~
For the past year, apartment buildings have been one of the few bright spots in the real-estate industry as people forced out of the home-buying market by foreclosures or the credit crunch have turned to renting.
But now the specter … (6 comments)

akron: Thousands enjoy some phosphorescent secrets at Blossom -- A previous post of mine, which I thoroughly enjoyed - 10/26/08 08:34 AM

Jack Johnson, Mason Jennings and Money Mark performed at Blossom Music Center yesterday evening, and perform they did.
Money Mark opened with a fun, upbeat set that differed from the usual opening act. His warm style and positive beats got the melancholy crowd revved up.
Mason Jennings is, in … (0 comments)

akron: Dispersing the blow from the economy - 10/24/08 07:36 PM

As the waves of retribution resonate through our industry and other similar industries, the ramifications are loud and easily felt...
I have seen a handful of Commercial Real Estate Agents go elsewhere to other industries to seek salaried positions.
On the other hand, I have also witnessed numerous financial carnage, as … (3 comments)

akron: PNC Bank to buy National City - 10/24/08 06:15 PM

I spoke with 2 employees of National City Bank today and they both were confident that the future looks solid and stable now and also said they were spending most of the day reassuring clients that were a little paranoid.
I certainly wish them the best and hope they continue with … (6 comments)

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