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116 Cowles Ave
Bedford, OH 44146
Eagle Crest Apartments · Multifamily Property For Sale
·
38 Units
PROPERTY FACTS
| No. Units | 38 | Building Size | 39,159 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1962/1966 |
| Building Class | C | Parking Ratio | 1.43/1,000 SF |
| Lot Size | 2.73 AC | ||
| Zoning | R-3 - Residential | ||
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.73 AC |
| Building Size | 39,159 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1962/1966 |
| Parking Ratio | 1.43/1,000 SF |
| Zoning | R-3 - Residential |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
ABOUT 116 COWLES AVE , BEDFORD, OH 44146
CREO REAL ESTATE IS PLEASED TO OFFER THIS 38 UNIT APARTMENT FOR SALE. PROPERTY CONSISTS OF 4 BUILDINGS, WITH 6 HALLWAYS AND A 2000 SF GARAGE ON 2.75 ACRES. PROPERTY PROFESSIONALLY MANAGED WITH 100% OCCUPANCY AND WAITING LIST. OWNER HAS INVESTED APPROX 300K IN THE LAST THREE YEARS IN CAPITAL IMPROVEMENTS AND UNIT RENOVATION. APPROX 30 OF THE 38 UNITS RENOVATED. TENANTS PAY GAS AND ELECTRIC AND SELLER MAY CONSIDER STOCK SALE. 14.50% CASH ON CASH RETURN AND 8.5% CAP RATE. IN THE LAST YEAR THE 24 CAR GARAGE WAS DEMOLISHED AND IN CONTRACT FOR 24 CAR PORTS. OWNER HAS PUT DOWN DEPOSIT AND SIGNED CONTRACT IN PLACE. BALANCE APPROX 40K, SELLER WILL CREDIT BUYER 50K TO ASSUME THE GARAGE PROJECT AND SOME EXTRA FOR GRADING THE LOT.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 13 | - | 550 |
| 2+1 | 25 | - | 750 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $282,310 | |
| Land Assessment | $166,425 | Total Assessment | $448,735 |
PROPERTY TAXES
