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Redevelopment Opportunity 1560 Wagar Rd 4 Unit Apartment Building $850,000 ($212,500/Unit) Rocky River, OH 44116
Executive Summary
Excellent redevelopment opportunity in the heart of Rocky River, ideal for townhomes or a new apartment complex. The site, located across from Rocky River High School—ranked 5th in Ohio—can support up to 25 apartment units (20 two-bedroom and 4 one-bedroom) or approximately 20 townhomes. Zoned R-4 Multi-Family, it allows buildings up to 36 feet high and can accommodate around 50 parking spaces. The location offers convenient access to I-90 and is close to dining, shopping, and services in both Rocky River and Fairview Park.
Property Facts
| Price | $850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $212,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.79 AC |
| Sale Condition | Redevelopment Project | Building Size | 24,402 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1956/1990 |
| Property Subtype | Apartment | ||
| Zoning | MF-R4 | ||
| Price | $850,000 |
| Price Per Unit | $212,500 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.79 AC |
| Building Size | 24,402 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1956/1990 |
| Zoning | MF-R4 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
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Property Taxes
| Parcel Number | 303-01-011 | Improvements Assessment | $93,835 |
| Land Assessment | $43,470 | Total Assessment | $137,305 |
Property Taxes
Parcel Number
303-01-011
Land Assessment
$43,470
Improvements Assessment
$93,835
Total Assessment
$137,305
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Redevelopment Opportunity | 1560 Wagar Rd
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