440-339-9305
2387 W 5th St, Cleveland, OH for Sale
Multi-Family - FOR SALE
1/10
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2387 W 5th St
Cleveland, OH 44113
Tremont


HIGHLIGHTS

  • Premier Tremont neighborhood location
  • Tax Abatement expires December 2035
  • Spacious floorplans with high ceilings and large windows throughout
  • In-suite laundry machines
  • Rooftop terrace with downtown views
  • Walk to the Towpath Trail

OVERVIEW

Tremont Trails Luxury Apartments offers a prime investment opportunity in Cleveland's thriving multifamily market. The property was built in 2021 and is zoned for 7 units, ideally positioned for an investor seeking a trophy property in a premier location. Benefitting from a 15 year tax abatement, this low-rise gem is located in the coveted Tremont neighborhood, offering close proximity to downtown Cleveland. Zoned as Apartments 7-19 Walkup, the property presents a compelling opportunity for investors looking to capitalize on the demand for modern, multifamily residences in a thriving location. Six units are built out and occupied. The seventh unit is a blank slate that has the potential to become a large three bedroom, two bathroom apartment. A designed floorplan is included in the Offering Memorandum. Estimated rent for the three bedroom is $2,850. Tremont Trails is Green Communities and Energy Star certified. The residential tax abatement began January, 2021, and runs for 15 years, expiring on December 31, 2035. The tax abatement is approved for 100% of the assessed taxes for the rehabilitation costs for a term of 15 years following the effective date. Tremont Trails is offered unpriced.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

7

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tremont Trails Luxury Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2021

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

4010 - Walkup Apts 7-19 U

APN/PARCEL ID

004-19-229

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 Policy.