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2392 Wooster Rd 12 Unit Apartment Building $1,350,000 ($112,500/Unit) Rocky River, OH 44116
Investment Highlights
- Exceptionally well maintained and self-managed by local owner
- Located in Rocky River, one of the most sought after suburbs in Northeast Ohio (#3 school district in Ohio; $137k median HH income)
- Garage parking for all units providing a significant competitive advantage over competing properties
- In place rents are $100+ below direct competitors
- Walking Distance to Downtown Rocky River, Cleveland Metroparks Rocky River Reservation, and Westgate Shopping Center
- New pitched roofs on both buildings within last 5 years
Property Facts Under Contract
| Price | $1,350,000 | Building Class | C |
| Price Per Unit | $112,500 | Lot Size | 0.42 AC |
| Sale Type | Investment | Building Size | 11,368 SF |
| No. Units | 12 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1947/1985 |
| Apartment Style | Low-Rise | Parking Ratio | 1.06/1,000 SF |
| Zoning | 4010 - 4010 - WALK-UP APTS 7-19 U | ||
| Price | $1,350,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 11,368 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built/Renovated | 1947/1985 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | 4010 - 4010 - WALK-UP APTS 7-19 U |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Hardwood Floors
- Stainless Steel Appliances
- Walk-In Closets
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,100 | 600 |
| 2+1 | 8 | $1,350 | 800 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 301-30-094 | Improvements Assessment | $323,680 |
| Land Assessment | $78,820 | Total Assessment | $402,500 |
Property Taxes
Parcel Number
301-30-094
Land Assessment
$78,820
Improvements Assessment
$323,680
Total Assessment
$402,500
Contacts
-
Michael Barron -
Charles Gagliano -
Mitchell Coon -
Institutional Property Advisors
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2392 Wooster Rd
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