7559 Mentor Ave - Apartments FOR SALE
Mentor, OH 44060 |
7559 Mentor Ave
Mentor, OH 44060
HIGHLIGHTS
- Investors have the option to purchase and maintain the property in its current state or upgrade the units and take advantage of the Mentor market
- Incredible value-add opportunity with current renovations around 50% complete which provides a proof of concept for future ownership to finish renos
- Ideally located in a secluded area off the main street of Mentor Ave. near a significant amount and variety of retail and dining
- Current ownership has taken great pride in maintaining and upgrading units while providing below market rents ($100 below market)
- Offered free and clear of any existing financing or encumbrances
- A new investor can take advantage of current financing (~5% rate including a portion of interest only), which significantly enhances returns
FOR SALE DETAILS
PRICE
-
# OF UNITS
-
CAP RATE
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% LEASED
-
BUILDING DETAILS
PROPERTY NAME
Cardinal MPARK Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
49688
STORIES
1
YEAR BUILT
1960
PARKING SPACES
80
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
16-B-031-A-00-020
