1885 Taylor Rd | East Cleveland, OH 44112
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1885 Taylor Rd
East Cleveland, OH 44112
TERRACE HOUSE APARTMENTS · Multifamily Property For Sale
·
50 Units
Investment Highlights
- 50 Units / Currently 96% Occupied / Fantastic Value Add Opportunity
- Excellent Unit Mix of 28 One Bedroom, One Bath units and 22 Two Bedroom, One Bath units
- Excellent Location, Bus Stops in Walking distance
- The Projected Net Annual Operating Income at 100% Occupancy at Market Rents is $250,949 or a 8.81% Cap rate at asking price of $2,850,000
- “Guaranteed” Rent, Stable & Reliable Tenant Base with Tremendous Upside
- Owner directs Immediate Sale of Portfolio to fund other Business opportunities!
Property Facts
| No. Units | 50 | Building Size | 44,968 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1965/1974 |
| Building Class | C | Parking Ratio | 1.31/1,000 SF |
| Lot Size | 1.14 AC | ||
| Zoning | Multi-Family | ||
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.14 AC |
| Building Size | 44,968 SF |
| Average Occupancy | 96% |
| No. Stories | 4 |
| Year Built/Renovated | 1965/1974 |
| Parking Ratio | 1.31/1,000 SF |
| Zoning | Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 28 | $675.00 | 675 - 750 |
| 2+1 | 22 | $725.00 | 750 - 825 |
Property Taxes
| Parcel Number | 673-11-026 | Improvements Assessment | $247,380 |
| Land Assessment | $34,790 | Total Assessment | $282,170 |
Property Taxes
Parcel Number
673-11-026
Land Assessment
$34,790
Improvements Assessment
$247,380
Total Assessment
$282,170
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
