885 S Green Rd - Apartments FOR SALE


Cleveland, OH 44121
$1,799,000 USD
440-670-2300
885 S Green Rd, Cleveland, OH for Sale
$1,799,000 USD
Apartments - FOR SALE
1/80
null | Request Cap Rate

885 S Green Rd
Cleveland, OH 44121


OVERVIEW

Stabilized 18-unit multifamily portfolio in great rental market! Consisting of two neighboring brick apartment buildings in South Euclid, these units offer immediate cash flow with limited deferred maintenance and room for continued rent growth. The property includes sixteen 2-bedroom and two 1-bedroom apartments and is currently producing an 7.73% cap rate with a projected 8.69% pro forma cap rate through normal lease renewals and one remaining vacancy. Ownership has invested over $224,000 in recent capital improvements, including renovated kitchens and baths, updated flooring, electrical panel upgrades, mechanical improvements, security cameras, and a new roof on 885 S. Green (2025). Building 885 features central air, 10 garage spaces, 6 surface parking spaces, owner-owned laundry, newer furnaces and hot water tanks. Building 893 offers 8 garage spaces, 4 surface spaces, owner-owned laundry, updated units, one commercial hot water tank, and one vacant unit ready for lease-up. Located next to the Euclid Creek Reservation and minutes from Cleveland Clinic, University Hospitals, Beachwood, Cleveland Heights, shopping, dining, and Metroparks, this is an excellent opportunity to acquire a well-maintained investment property with stable income and long-term appreciation. Seller is also selling 24 units across the street. Buyers interested in the entire 42 units will have the opportunity to quality for up to 15% of seller financing.

FOR SALE DETAILS

PRICE

$1,799,000 USD

PRICE/SF

$188 USD /SF

# OF UNITS

10

PRICE/UNIT

$179,900

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1958

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

M F

APN/PARCEL ID

701-27-004

ASK ABOUT THIS PROPERTY

Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

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Erin ThomasKeller Williams LIVINGMore Info
440-670-2300

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