3456 W 117th St - Apartments FOR SALE


Cleveland, OH 44111- Jefferson
$500,000 USD
216-235-1559
3456 W 117th St, Cleveland, OH for Sale
$500,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

3456 W 117th St
Cleveland, OH 44111
Jefferson


HIGHLIGHTS

  • Located in the busy Lorain Avenue - W 117th Street district.
  • Fully occupied with below market rents.
  • Less than 10-minute drive from Lake Erie and Downtown Cleveland.
  • Two RTA rapid stops.
  • Excellent access to I-90, I-71, I-480, and Cleveland Hopkins Airport.
  • Home to Assad's Mediterranean Cuisine, Chef Carolyn's Exotic Cuisine, Der Braumeister, Hawana's Sweets & Kitchen, and more.

OVERVIEW

This is a unique opportunity to invest in an improving neighborhood that is popular with renters. The 6-unit property with first floor retail is well-maintained and well-located, resulting in high historic occupancy. The deep rental market in this neighborhood provides for shorter term vacancies and the ability to push rents up to market rates more quickly. In addition, the rising tide of the neighborhood is home to many new food, lifestyle, and entertainment areas, and has attracted significant investment in recent years.

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$80 USD /SF

# OF UNITS

6

PRICE/UNIT

$83,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West 117th Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

General Retail/Apartments

APN/PARCEL ID

018-04-180

ASK ABOUT THIS PROPERTY

Rico PietroCushman & Wakefield | CRESCO Real EstateMore Info
216-235-1559

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Rico PietroCushman & Wakefield | CRESCO Real EstateMore Info
216-235-1559

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