2097 Columbus Rd - Apartments FOR SALE


Cleveland, OH 44113- Tremont
$1,875,000 USD
216-264-2048
2097 Columbus Rd, Cleveland, OH for Sale
$1,875,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

2097 Columbus Rd
Cleveland, OH 44113
Tremont


HIGHLIGHTS

  • Offering Site: https://columbuslofts.sharplaunch.com
  • Located in Duck Island, one of Cleveland’s oldest yet most trendy infill neighborhoods situated alongside Ohio City, Tremont, and Downtown Cleveland
  • Short walk to the West Side Market and Ohio City’s main nightlife corridor on W 25th Street
  • Rents are the lowest in the submarket with current rents $150 below market
  • Units feature many 2- and 3-story floorplans, luxury finishes such as granite countertops, stainless steel appliances & custom cabinetry, and w/d
  • Property benefits from real estate tax abatement running through 2033

OVERVIEW

Columbus Lofts presents a rare opportunity to acquire a boutique 11-unit multifamily asset in one of Cleveland’s most sought-after urban corridors. Located at 2097 Columbus Road, this historic property sits at the vibrant intersection of Ohio City and Tremont, directly adjacent to the iconic Velvet Tango Room. Originally constructed in 1906 and fully converted in 2017, the building offers spacious loft-style residences with luxury finishes, in-suite laundry, and a mix of highly desirable two- and three-story floorplans. Residents enjoy dedicated off-street parking and walkable access to the West Side Market, W 25th Street’s dining and entertainment district, and Cleveland Clinic Lutheran Hospital. With an average unit size of approximately 1,017 square feet, current in-place rents average $1,413/month ($1.39/SF), offering the lowest rent levels among direct competitors in the submarket and strong upside potential. The property is currently 90.9% occupied, supported by a stable tenant base and premium unit features. Investors will benefit from an assumable non-recourse Freddie Mac loan with a remaining balance of $1,630,000+, as well as a real estate tax abatement in effect through 2033, significantly enhancing long-term cash flow. Columbus Lofts combines timeless architectural character, modern amenities, and exceptional location fundamentals—making it a standout investment in Cleveland’s thriving multifamily market.

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$168 USD /SF

# OF UNITS

11

PRICE/UNIT

$170,455

CAP RATE

Request Cap Rate

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Columbus Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1906

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

SI

APN/PARCEL ID

004-03-004

ASK ABOUT THIS PROPERTY

Michael BarronInstitutional Property AdvisorsMore Info
216-264-2048

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Michael BarronInstitutional Property AdvisorsMore Info
216-264-2048

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