18911 Bella Dr - Apartments FOR SALE


Cleveland, OH 44119- North Collinwood
$1,025,000 USD
216-219-0290
18911 Bella Dr, Cleveland, OH for Sale
$1,025,000 USD
Apartments - FOR SALE
1/8
null | 7.36% Cap Rate

18911 Bella Dr
Cleveland, OH 44119
North Collinwood


HIGHLIGHTS

  • Resilient residential community located on Bella Drive in Cleveland
  • Traditional architectural appeal with well-maintained exterior presentation
  • Generous unit layouts provide comfortable living environments
  • Recent interior refresh includes quality fixtures and finishes
  • Landscaped grounds enhance curb appeal and resident satisfaction
  • Secure entry systems promote resident peace of mind Ongoing maintenance keeps major building systems current

OVERVIEW

18911 Bella Drive presents a mostly renovated 12-unit multifamily asset with significant capital improvements already completed. Ownership has renovated 8 of 12 units over the past two years, achieving strong rent growth while maintaining stable occupancy. The property has undergone full lead abatement and holds a 20-year lead-free certification, significantly reducing regulatory risk. Additional recent capital improvements include a new roof, updated entry doors, renovated laundry rooms, and upgraded mechanical systems. This offering represents a rare opportunity to acquire a largely de-risked, near-stabilized asset with in-place income and remaining upside by increasing rents to market, maximizing an 8% CAP

FOR SALE DETAILS

PRICE

$1,025,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

12

PRICE/UNIT

$85,417

CAP RATE

7.36%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

MF-1

APN/PARCEL ID

114-23-033

ASK ABOUT THIS PROPERTY

Rick Osborne Jr.The Osborne Group - KW CommercialMore Info
216-219-0290

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Rick Osborne Jr.The Osborne Group - KW CommercialMore Info
216-219-0290

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