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Starr Piano Lofts 1224 Huron Rd E 9 Unit Apartment Building $2,999,000 ($333,222/Unit) 5.90% Cap Rate Cleveland, OH 44115
Investment Highlights
- 100% occupied with a 6% cap rate.
- Excellent location one block from E 9th Street.
Executive Summary
Hoff & Leigh is proud to offer the newest mixed-use, 9 residential & 1 retail unit, The Starr Piano Lofts. Located at 1224 Huron Ave, Cleveland, OH 44115, in the Playhouse Square / Theater District. Offered for Sale: $2,999,000. The Starr Piano Lofts is an award-winning historical renovation and consists of 3 one-bedroom & one-bath units and 6 two-bedroom & two-bath units, all with in-suite laundry. Three units overlooking Playhouse Square. The property is a solid fully leased investment opportunity with upside potential! Storage lockers and parking can provide additional income. Excellent location, one block from E 9th Street, all major sports arenas and at the corner of the RTA Health-Line. Owner paid trash removal and water / sewer; tenant paid electric only. Currently the property is 100% Occupied!
CALL JOE FOR DETAILS: 330-990-0847
CALL JOE FOR DETAILS: 330-990-0847
Property Facts
| Price | $2,999,000 | Building Class | B |
| Price Per Unit | $333,222 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 13,000 SF |
| Cap Rate | 5.90% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2017 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | GR-6 - General Retail Business | ||
| Price | $2,999,000 |
| Price Per Unit | $333,222 |
| Sale Type | Investment |
| Cap Rate | 5.90% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.10 AC |
| Building Size | 13,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1920/2017 |
| Opportunity Zone |
Yes |
| Zoning | GR-6 - General Retail Business |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (75)
Property Taxes
| Parcel Number | 101-37-021 | Improvements Assessment | $665,455 |
| Land Assessment | $91,490 | Total Assessment | $756,945 |
Property Taxes
Parcel Number
101-37-021
Land Assessment
$91,490
Improvements Assessment
$665,455
Total Assessment
$756,945
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Starr Piano Lofts | 1224 Huron Rd E
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