14124-14128 Superior Rd
East Cleveland, OH 44118
GLEN EDEN & HEIGHTS VIEW APARTMENTS · Multifamily Property For Sale · 36 Units

Green Bridge Real Estate is pleased to present The 36 Unit Heights View and Glen Eden Apartments located at 14124 and 14128 Superior Road in East Cleveland, Ohio 44118. The approx. 36,980 Sq.Ft. All-Brick, 4-Story Building on 0.48 acres, consisting of 36 units: 33 one bedroom, one bath units of approx. 750 Sq.Ft. and 3 two bedroom, one bath units of approx. 900 Sq.Ft. 9' Ceilings, Crown Molding and Hardwood floors throughout. Owner directs Immediate Sale of Portfolio to fund other Business opportunities. The Heights View & Glen Eden Apartments are included in a 90 Unit Total Unit Portfolio Sale offered at $3,199,500, can be purchased individually or in bulk. The 18 Unit Glen Eden Apartments have been recently fully renovated to an excellent finish and are ready for occupancy. The 18 Unit Heights View Apartments are currently 89% Occupied. Landlord paid Heat, Trash, Water & Sewer. Glen Eden Apartments hot water usage has been sub metered to bill back tenants for consumption. Leased Laundry Units will provide additional income. The Projected Net Annual Operating Income at 100% Occupancy is $213,609 or a 15.02% Capitalization rate at the asking price of $1,422,000 ($39,500 per unit). The Heights View and Glen Eden Apartments are currently owner managed and held to very high standards. Some of the units are leased in conjunction with the Section 8 Subsidy Voucher program which provides partial / full housing assistance for low income individuals or families. This provides a stable, consistent tenant base with guaranteed rent payments. This is a Fantastic Opportunity to purchase a recently renovated Apartment Building with huge upside for a bargain price! Glen Eden and Heights View is located in the Forest Hills neighborhood adjacent to Forest Hills Park, former home of the Rockefeller estate. This neighborhood borders East Cleveland and Cleveland Heights, Ohio and shares a Cleveland Heights zip code, 44118. With easy access to I-90 to the North and Cedar Road to the South, the apartments are only 1.5 miles from Little Italy, Case Western Reserve University and the Cleveland Clinic' s World Headquarters, 6.5 miles from Downtown Cleveland and .25 miles from the Coventry Shopping district, one of the strongest rental markets in Northeast Ohio. RTA Public transportation is also readily available with numerous bus stops in walking distance.