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17 Units - The Wilroy and Elite Manor 2 Multifamily Properties Offered at $1,075,000 in Multiple Locations
INVESTMENT HIGHLIGHTS
- Turn-Key Opportunity w/Upside!
- Excellent Rental History in Highly Desirable Rental Market!
- Many Recent Capital Improvements!
EXECUTIVE SUMMARY
NEW PRICE! 8.78% Cap Rate!
Point of Sale Compliant. Certificates attached.
Location: 2588-2592 Mayfield Rd, Cleveland Heights, OH 44106
Excellent long term tenant history w/serious upside potential! Turn-key!
• Ownership has made many recent capital improvements including updated electrical panels, sub-panels and meters, new exterior entryway doors, hot water tanks (2023) at Elite, blue-tooth operated commercial washer & dryers and numerous flooring and appliances upgrades throughout. Numerous upgrades and renovations to apartment units including a recently remodeled/completely renovated efficiency in the Wilroy. New seal coat job on the driveway 2025.
Desirable Mix of Units: (x12) 1Bd/1B, (x4) 2Bd/1B & (x1) Efficiency. Buildings are adjacent to each other and share a driveway, making management easier. Low-maintenance all brick exteriors and minimal landscaping.
Confidential Listing: Do Not Disturb or Approach Tenants!
Close proximity to plenty of universities, hospitals, restaurants, nightlife, entertainment such as concert venues, Cleveland Art museum, Museum of Natural History and more.
Located in Cleveland Heights close to Little Italy, Coventry, University Heights, Shaker Heights. Just over 20 minute drive to downtown Cleveland. Approx. 10 minute drive to the Cleveland Clinic.
Contact the Powers Brothers at 330.762.0535 to get access to the offering memorandum.
Point of Sale Compliant. Certificates attached.
Location: 2588-2592 Mayfield Rd, Cleveland Heights, OH 44106
Excellent long term tenant history w/serious upside potential! Turn-key!
• Ownership has made many recent capital improvements including updated electrical panels, sub-panels and meters, new exterior entryway doors, hot water tanks (2023) at Elite, blue-tooth operated commercial washer & dryers and numerous flooring and appliances upgrades throughout. Numerous upgrades and renovations to apartment units including a recently remodeled/completely renovated efficiency in the Wilroy. New seal coat job on the driveway 2025.
Desirable Mix of Units: (x12) 1Bd/1B, (x4) 2Bd/1B & (x1) Efficiency. Buildings are adjacent to each other and share a driveway, making management easier. Low-maintenance all brick exteriors and minimal landscaping.
Confidential Listing: Do Not Disturb or Approach Tenants!
Close proximity to plenty of universities, hospitals, restaurants, nightlife, entertainment such as concert venues, Cleveland Art museum, Museum of Natural History and more.
Located in Cleveland Heights close to Little Italy, Coventry, University Heights, Shaker Heights. Just over 20 minute drive to downtown Cleveland. Approx. 10 minute drive to the Cleveland Clinic.
Contact the Powers Brothers at 330.762.0535 to get access to the offering memorandum.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,075,000 | Number of Properties | 2 |
| Price / SF | $40.05 / SF | Individually For Sale | 0 |
| Cap Rate | 8.78% | Total Building Size | 26,840 SF |
| Sale Type | Investment | Total Land Area | 0.55 AC |
| Status | Active |
| Price | $1,075,000 |
| Price / SF | $40.05 / SF |
| Cap Rate | 8.78% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 26,840 SF |
| Total Land Area | 0.55 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 2592 Mayfield Rd, Cleveland, OH 44106 | Multifamily | 12,000 SF | 1998 | - |
| 2588 Mayfield Rd, Cleveland Heights, OH 44106 | Multifamily | 14,840 SF | 1928 | - |
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17 Units - The Wilroy and Elite Manor
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