Hruby Apartments

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30004695
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 17 Units
Building Size (RSF): 16,119 SF
Gross Building Area: See Agent
Gross Land Area: 0.23 Acres
Sale Price: $169,000
Unit Price: $9,941.18 Per Unit
Property Use Type: Investment, Business
Building Name: Hruby Apartments
Sale Terms: Cash to Seller
Cap Rate: 30.57%
Last Updated: 6/26/2017

Overview / Comments

Green Bridge Real Estate is pleased to present an ideal value added opportunity with the Hruby Apartments located at 10722 Lee Avenue in the Wade Oval neighborhood of Cleveland, Ohio. An approx. 16,119 Sq.Ft. 17 Unit Apartment Building on 0.23 Total Acres For Sale for $169,000 or $10,000 per unit. The 17 Unit Walk up, Garden Style Apartment building is a 3 story brick building consisting of Nine (9) One Bedroom, One Bathroom units and Eight (8) Two Bedroom, One Bathroom Units. Cooking Gas and Electric is sub-metered (Tenant Paid). The property will benefit from a renovation. Currently the property is Vacant. For estimation and demonstration purposes, this renovation could range between $85,000 to $200,000 depending on finish. Please use your own estimates.
The property is located near the Louis Stokes Cleveland Veterans Affairs Medical Hospital Campus, University Circle, 2 blocks away from Case Western Reserve University and the Cleveland Clinic Main Campus.
Projected Stabilized NOI at 90% Occupancy is $51,665 or a 30.57% Cap Rate at the Asking Price of $169,000. Free and Clear Title.

Additional Details

Nearest MSA: Cleveland-Elyria
County: Cuyahoga
Taxing Authority: Cuyahoga County
Tax ID/APN: 120.06.027
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 3

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 29,256 160,684 369,657
Median Age: 34.7 36.21 37.5
Households: 11,741 68,490 157,565

Source

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