18051 Lake Shore Blvd - Apartments FOR SALE


Cleveland, OH 44119- North Collinwood
$1,100,000 USD
440-339-9305
18051 Lake Shore Blvd, Cleveland, OH for Sale
$1,100,000 USD
Apartments - FOR SALE
1/37
null | 7.54% Cap Rate

18051 Lake Shore Blvd
Cleveland, OH 44119
North Collinwood


HIGHLIGHTS

  • Rents Over 10% Below Market
  • One Block from Lake Erie
  • Individually Metered Gas and Electric
  • 20 Year Lead-Free Certificate

OVERVIEW

Windward Place Apartments consists of 21 one-bedroom, one-bathroom units located one block from Lake Erie on Cleveland’s Lakeshore Boulevard. This well maintained property offers investors a chance to own in a convenient and popular submarket. With average rent currently at $733 per month—over 10% below market rates—a new owner can start generating cash flow immediately, with strong potential to boost income by aligning rents with the market. Windward Place benefits from a 20 Year Lead-Free Certification. The structure is all brick with vinyl windows. Heat is supplied by individual furnaces. Amenities include coin-laundry and on-site garage and surface parking.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

21

PRICE/UNIT

$52,381

CAP RATE

7.54%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Windward Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1962

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

N/Av, Cleveland

APN/PARCEL ID

114-07-009

ASK ABOUT THIS PROPERTY

Benjamin BakerAdams Lynch AssociatesMore Info
440-339-9305

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Benjamin BakerAdams Lynch AssociatesMore Info
440-339-9305

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