2360 Noble Rd - Apartments FOR SALE


Cleveland Heights, OH 44121- Monticello-Noble
$2,899,900 USD
330-931-9418
2360 Noble Rd, Cleveland Heights, OH for Sale
$2,899,900 USD
Apartments - FOR SALE
1/28
null | 7.35% Cap Rate

2360 Noble Rd
Cleveland Heights, OH 44121
Monticello-Noble


HIGHLIGHTS

  • 95.34% current occupancy
  • Pro-Forma Cap Rate on $2,899,900 Sales Price 18.104%
  • Quality Physical assets with recent capital investments completed

OVERVIEW

Discover the Investment Opportunity of a Lifetime at Yellowstone Apartments in Cleveland Heights, OH! This exceptional 43-unit multifamily package, located at 2266 & 2360-2372 Noble Rd, offers incredible potential for savvy investors. With a 90% occupancy rate and a history of high occupancy, this property is a solid investment with room for growth. The two building package features one 10-unit and one 33-unit building, along with three common area structures. The unit mix includes 15 one-bedroom, one-bathroom suites and 28 spacious two-bedroom, one-bathroom suites. With a total building size of 34,650 sq. ft., this property offers excellent space for residents to call home. Built in 1940 and situated on two 1.518-acre plots. The current gross annual rental income stands at $465,985, with a net annual income of $213,119.14. At the current sales price of $2,899,900, the property carries an attractive capitalization rate of 7.35%, with a proforma rate of 18.1%. Don't miss out on this tremendous investment opportunity. Call Jason Griffith at Green Bridge Real Estate at 330-931-9418 to explore this property and make it yours.

FOR SALE DETAILS

PRICE

$2,899,900 USD

PRICE/SF

$73 USD /SF

# OF UNITS

43

PRICE/UNIT

$67,440

CAP RATE

7.35%

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Yellowstone Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1940

PARKING SPACES

32

LAND DETAILS

LAND ACRES

1.09 AC

LAND SF

47,480 SF

ZONING

-

APN/PARCEL ID

681-38-076,682-35-022

ASK ABOUT THIS PROPERTY

Jason GriffithGreen Bridge Real EstateMore Info
330-931-9418

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Jason GriffithGreen Bridge Real EstateMore Info
330-931-9418

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