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.