11100-11106 Detroit Ave - Apartments FOR SALE


Cleveland, OH 44102- Edgewater
$4,900,000 USD
440-708-6302
11100-11106 Detroit Ave, Cleveland, OH for Sale
$4,900,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

11100-11106 Detroit Ave
Cleveland, OH 44102
Edgewater


OVERVIEW

The Edgewater Premium Apartments, a distinguished portfolio featuring 4 properties, containing 60 residential units and 4 commercial suites. These properties are nestled in the revitalized, quickly evolving Edgewater neighborhood, on the border of Lakewood and Cleveland, Ohio. Edgewater Premium Apartments are strategically located between the West Side’s main thoroughfares, Madison and Detroit Avenue. The property is just 1.5 miles from Edgewater Beach and a 10-minute drive to Downtown Cleveland. Residents benefit from a 10-minute walk to the RTA West Boulevard stop, a 5-minute drive to I-90, and a 4-minute drive to OH-2, providing convenient access to Cleveland’s main attractions and employment centers. Ownership has started a light interior renovation strategy, yielding increased returns. A new investor has the opportunity to conduct a full value-add program and greatly increase the performance of the asset. Additionally, the 4 commercial suites offer investors the chance to diversify revenue streams and increase returns. Detroit Manor: 11100 Detroit Avenue. 25 residential units and 2 commercial suites. Deli Building: 11115 Detroit Avenue. 13 residential units and 2 commercial suites. West Edge: 111103 Detroit Avenue. 12 residential units Minta & Flora: 11029-11031 Detroit Ave, 10 residential units.

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$112 USD /SF

# OF UNITS

64

PRICE/UNIT

$76,563

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Edgewater Premium Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,718 SF

ZONING

GR

APN/PARCEL ID

001-18-008

ASK ABOUT THIS PROPERTY

Robert StarrettBerkadia Commercial Mortgage LLCMore Info
440-708-6302

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Robert StarrettBerkadia Commercial Mortgage LLCMore Info
440-708-6302

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.