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17800 Euclid Ave
Cleveland, OH 44112
Torbenson Apartments · Multifamily Property For Sale
·
47 Units
Investment Highlights
- The Projected Net Annual Operating Income at 100% Occupancy with a 10% Vacancy Factor and a 10% Management Expense is $126,629 or a 38.9% Cap Rate
- SELLER FINANCING AVAILABLE, 1st position, 50% down, 6% (6% APR), 20 yr. amort, balloon in 48 mos, monthly principal & interest pyments, RE tax escrow
- Converting the building into a drug treatment center, a rehabilitation unit, or a shelter are just a few of the possibilities.
- The Pro-Forma Cap Rate at 100% Occupancy and a $15,000 per unit renovation budget is 12.29%.
- Property is currently Vacant and ready for renovations
- The newly constructed Amazon Fulfillment Center is only 5 miles away
Property Facts
| No. Units | 47 | Building Size | 21,877 SF |
| Property Type | Multifamily | Average Occupancy | 1% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1958 |
| Building Class | F | Parking Ratio | 0.91/1,000 SF |
| Lot Size | 0.54 AC | ||
| Zoning | MF-D2 | ||
| No. Units | 47 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | F |
| Lot Size | 0.54 AC |
| Building Size | 21,877 SF |
| Average Occupancy | 1% |
| No. Stories | 3 |
| Year Built | 1958 |
| Parking Ratio | 0.91/1,000 SF |
| Zoning | MF-D2 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 47 | $475.00 | - |
Property Taxes
| Parcel Number | 117-25-005 | Improvements Assessment | $394,310 |
| Land Assessment | $16,520 | Total Assessment | $410,830 |
Property Taxes
Parcel Number
117-25-005
Land Assessment
$16,520
Improvements Assessment
$394,310
Total Assessment
$410,830
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