42 Unit Apartment Property For Sale

Cleveland, OH (Cuyahoga County)

Asking Price: $2,200,000

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Real Estate Details

Listed on May 25, 2023

42 unit apartment building.

The approx. 31,384 Sq.Ft., 4 story, Elevator served, All-Brick building built in 1920, on .31 acres.
28 One Bedroom, One Bath 560+/- SF units and 4 Two Bedroom, One Bath 660+/- SF units and 10 Studio 410+/- SF suites.

Located on the south side of the Edgewater neighborhood within the Northwest corner of the City of Cleveland, Cuyahoga County, Ohio. Specifically, the property is located on the west side of West Boulevard approximately 50 feet north of Detroit Avenue. The immediate subject neighborhood is generally bordered to the east by West 65th Street and Lake Avenue, the south by Detroit Avenue, the west by the Cleveland/Lakewood Municipal line and the north by Lake Erie. The property benefits from being three miles west of the Cleveland Central Business District.

This building is at 55% vacancy.

The Projected Net Annual Operating Income at 100% Occupancy at Market Rents is $126,974

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Financials (USD)

Net Operating Income (Annual) Not Disclosed

Asking Price $2,200,000

Cap Rate Available On Request

Additional Details

Building Area 31384.00 Square Feet

Building Class Class C Building

Percent Occupied 50%

Deal Terms

Who is Listing the Property? Owner

Broker Co-Op? Available On Request

Seller Financing Available? Yes

Seller Willing To Lease? No

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