DESCRIPTION-FULL-2026-04-12 - 428 Cross St, Akron, OH 44311.md

Property originally listed for sale on the marketplace by *Julius Patrick Industries, LLC*.

[Click here](https://learn.lofty.ai/en/articles/6145558-how-the-lofty-marketplace-works) to learn more about how third parties list their properties on the Lofty Marketplace.

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3-Unit property (Triplex) located in Akron, Ohio.
## Details
- The property has undergone major renovations, including new roof, siding, windows, electrical, and hot water heater
- The units are identical and feature 2 bedrooms with private lock/key, 1 full bathroom, updated kitchen with breakfast nook, and cable-ready living room
- Each room has its own thermostat and there is key access to a rear entry laundry room that requires a stackable washer and dryer unit
- The building has new electrical with 4 meter boxes and added exterior entry laundry room, 4 new exterior doors, new concrete stairs and driveway, new siding, new gutters and downspouts, new replacement windows, and landscaping
- The interior has new/upgraded electrical and all wiring is to code, including GFI outlets in the kitchen and bathrooms
- Each unit has new electric baseboard heaters with thermostats in each room, new light fixtures, and new cabinets, countertops, sinks, faucets, tubs, toilets, and vanities
- The lower unit has new drywall throughout and all units have been primed and painted
- Tenants are responsible for paying their own electric and the units have virtually maintenance-free electric baseboard heat
- Located near The University of Akron
## Property Management and Insurance
- Managed by ECO Systems LLC
- [Insurance Policy](https://www.dropbox.com/s/scvot6t3bg7knf8/Property%20Insurance%202023-05-01%20-%20428%20Cross%20St%20Akron%2C%20OH%2044311.pdf?dl=0) through [Obie Insurance](https://www.obieinsurance.com/)
## Occupancy Status
- **Unit 1** (Delinquent, under eviction)
- Aligned (sub-PM) is fighting with the tenant on a rent escrow case
- 1 year lease (11/08/2024 - 11/07/2025)
- $795/month
- $795 Security Deposit
- [Lease Agreement](https://www.dropbox.com/scl/fi/mx7op9zvo8quwacais002/Lease-11-08-2024-11-07-2025-428-Cross-St-Unit-1-Akron-OH-44311_Redacted.pdf?rlkey=exriacnhalcc64whn2otmabt8&st=nd7v5xeu&dl=0)
- **Unit 2**
- 1 year lease (04/01/2023 - 03/31/2024)
- $845/month
- $845 Security Deposit
- [Lease Agreement](https://www.dropbox.com/s/7y06llbriu35vy0/Lease%20%28Unit%202%29%20%282024-03-31%29%20-%20Lofty%20Holding%20428%20Cross%20Street%20LLC_Redacted.pdf?dl=0)
- **Unit 3** (Vacant)
## Location Data
- 1.5/5 Neighborhood Rating on [Roofstock](https://www.roofstock.com/get-neighborhood-rating)
- "C+" Rating for Zip Code on [Niche](https://www.niche.com/places-to-live/z/44311/)
## Due Diligence Documents
- [HouseCanary Property Valuation Report](https://www.dropbox.com/scl/fi/jd84p6ktstdggqwsdx9qg/Property-Valuation-Reports-May-2024-428-Cross-St-Akron-OH-44311.pdf?rlkey=58cfttph62obd355cts4dykkm&st=wosfw41d&dl=0) (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- [Inspection Report](https://www.dropbox.com/s/bkatrjicn4dx2ie/Inspection%20Report%20-%20Lofty%20Holding%20428%20Cross%20Street%20LLC.pdf?dl=0)
- [Purchase Agreement](https://www.dropbox.com/s/5tbxksgozs09hr8/Purchase%20and%20Sale%20Agreement%20-%20Lofty%20Holding%20428%20Cross%20Street%20LLC.pdf?dl=0)
- [Operating Agreement](https://www.dropbox.com/scl/fi/3o85mhgjc5wtweu76dood/DAO-Operating-Agreement-428-Cross-St-Akron-OH-44311.pdf?rlkey=no2b4k3dgih9fibblnzdrrt0w&dl=0)
- [Closing Statement](https://www.dropbox.com/s/nb6cl5l6ohhb3jt/Closing%20Statement%20-%20Lofty%20Holding%20428%20Cross%20Street%20LLC.pdf?dl=0)
- [View All Documents](https://www.dropbox.com/sh/inc75gtp30bp157/AAByavcVTaiYF6gll0Ctn6GHa?dl=0)
- [View All Updates](https://www.loftyassist.com/properties/01FNSMTASFCP7DTAJENQ0HMAME)