Euclid Garden Apartments

Multi-Family for Sale
Catylist Listing ID: 30178483
Property Subtypes: Government Subsidized, Low-Rise/Garden
Number of Units: 24 Units
Building Size (RSF): 15,456 SF
Gross Building Area: See Agent
Sale Price: $840,000
Unit Price: $35,000 Per Unit
Property Use Type: Investment
Building Name: Euclid Garden Apartments
Sale Terms: Cash to Seller
Cap Rate: 12.94%
Last Updated: 11/19/2017

Overview / Comments

Green Bridge Real Estate is proud to offer the 24 Unit Euclid Garden Apartments located at 15112 Euclid Avenue, East Cleveland, OH 44112 For Sale $840,000 ($35,000 per unit). The property has undergone significant renovations. The property is an outstanding investment opportunity with upside potential! Ownership Immediate Sale of Portfolio to fund other Business opportunities! The Euclid Garden Apartments are included in a 223 Total Unit 7 Bldg. Portfolio Sale offered at $9,100,000, can be purchased individually or in bulk. The Euclid Garden Apartments consists of 24 One-bedroom, One Bathroom suites, all brick, approx. 15,456 Sq.Ft. apartment property built in 1960 and located on .45 Acres. Newer Roof (2012), New Boiler (2016), Common areas and all units renovated in 2016. Projected Net Operating Income at 100% Occupancy is $108,685 or a 12.94% Cap at the Asking Price of $840,000. Currently the property is 50% Occupied.

All 24 suites are one story, one bedroom, one bathroom, apartment styles with each unit having approximately 600 square feet of spacious living space. Laundry Room provides additional income. An RTA Bus Line stop is located directly across the street from the complex and the newly built Shaw High School next door. Owner paid heat, Trash Removal and Water / Sewer, tenant paid electric.

Attachments & Media

Additional Details

Nearest MSA: Cleveland-Elyria
County: Cuyahoga
Taxing Authority: Cuyahoga County
Tax ID/APN: 673-09-110
Zoning: APARTMENTS 20-39 UNITS (WALK UP)
Percent Occupied: 50%
Side of Street: South
Road Type: Paved
Transportation: Bus
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 3
Year Renovated: 2012
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Laundry: Shared

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,859 166,288 343,172
Median Age: 41.56 37.97 38.72
Households: 9,482 71,614 147,582
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