1374 West Blvd | Cleveland, OH 44102
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- LoopNet Team
1374 West Blvd
Cleveland, OH 44102
EDGEWAY APARTMENTS · Multifamily Property For Sale
·
42 Units
Investment Highlights
- Possible City of Cleveland Tax Abatement & Other Incentives
- The Projected Net Annual Operating Income at 100% Occ. w/Market Rents is $110,648 or a 4.43% Cap rate at $2,499,000 ($59,500 per unit)
- Excellent A class Location with high-end Rental demand, Bus Stops in Walking distance
- 42 Units / Currently 52% Occupied / Fantastic Value Add Opportunity
- Excellent Unit Mix of 28 One Bedroom, One Bath units, 4 Two Bedroom, One Bath units and 10 Studio Units
- Owner directs Immediate Sale to fund other Business opportunities!
Property Facts
| No. Units | 42 | Lot Size | 0.31 AC |
| Property Type | Multifamily | Building Size | 33,032 SF |
| Property Subtype | Apartment | Average Occupancy | 55% |
| Apartment Style | Mid-Rise | No. Stories | 4 |
| Building Class | C | Year Built/Renovated | 1920/1972 |
| Zoning | MF-2 - APTS 40+ | ||
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 33,032 SF |
| Average Occupancy | 55% |
| No. Stories | 4 |
| Year Built/Renovated | 1920/1972 |
| Zoning | MF-2 - APTS 40+ |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Carpet
Site Amenities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | $500.00 | 410 |
| 1+1 | 28 | $657.50 | 560 |
| 2+1 | 4 | $725.00 | 660 |
Property Taxes
| Parcel Number | 001-13-027 | Improvements Assessment | $451,745 |
| Land Assessment | $14,070 | Total Assessment | $465,815 |
Property Taxes
Parcel Number
001-13-027
Land Assessment
$14,070
Improvements Assessment
$451,745
Total Assessment
$465,815
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