2734 Summit Park Dr & 2737 Noble Rd - Apartments FOR SALE


Cleveland Heights, OH 44121- Monticello-Noble
$2,650,000 USD
216-403-9294
2734 Summit Park Dr & 2737 Noble Rd, Cleveland Heights, OH for Sale
$2,650,000 USD
Apartments - FOR SALE
1/26
null | 9.05% Cap Rate

2734 Summit Park Dr & 2737 Noble Rd
Cleveland Heights, OH 44121
Monticello-Noble


HIGHLIGHTS

  • Assumable Financing at Fixed at 4% Until March 2027
  • 50% 2 bedroom units
  • Separately Metered Utilities
  • Unique Opportunity to Obtain a Poorly Operated Property with Significant Upside

OVERVIEW

Opportunity to obtain a poorly performing asset with significant upside. Property requires approximately $100,000 in repairs and upgrades to get occupancy back up to market. Occupancy and rents well below market. Assumable financing at 4% interest ($1.8M loan balance) available to a qualified buyer.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$54 USD /SF

# OF UNITS

50

PRICE/UNIT

$53,000

CAP RATE

9.05%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Promenade Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1949

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.51 AC

LAND SF

65,776 SF

ZONING

MF2

APN/PARCEL ID

682-29-013

ASK ABOUT THIS PROPERTY

Nick SoederAdams Lynch AssociatesMore Info
216-403-9294

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Nick SoederAdams Lynch AssociatesMore Info
216-403-9294

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