1400 Ranchland Dr | Mayfield Heights, OH 44124
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- LoopNet Team
1400 Ranchland Dr
Mayfield Heights, OH 44124
Multifamily Property For Sale
·
16 Units
INVESTMENT HIGHLIGHTS
- Proven Value-Add Opportunity: Approximately 5 of the 16 units have been renovated that are generating rent premiums between $300-600/month.
- Prime Location: Ranchland Gardens is located at the intersection of Mayfield Rd and Ranchland Drive surrounded by numerous walkable retail amenities
- Spacious Layouts: Each town-home is a two-story building plus a basement with 2 beds and one and a half bath.
- Significant Upside Through Organic Rent Growth: Current rents are 20%+ below market.
- Proven Operating History: The property is currently 100% occupied and has been consistently full for years.
- Unique Features: Each town-home comes with a ground level patio and an upstairs balcony off of the master bedroom.
PROPERTY FACTS
| No. Units | 16 | Building Size | 26,400 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1965 |
| Building Class | C | Parking Ratio | 0.98/1,000 SF |
| Lot Size | 0.73 AC | ||
| Zoning | N/Av, Mayfield | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 26,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | N/Av, Mayfield |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
PROPERTY TAXES
| Parcel Number | 861-05-077 | Improvements Assessment | $275,485 |
| Land Assessment | $42,175 | Total Assessment | $317,660 |
PROPERTY TAXES
Parcel Number
861-05-077
Land Assessment
$42,175
Improvements Assessment
$275,485
Total Assessment
$317,660
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