75 Unit Portfolio | Lakewood OH Multi-Family FOR SALE


Lakewood, OH
$5,250,000 USD
, Lakewood, OH for Sale
$5,250,000 USD
Multi-Family - FOR SALE
1/46
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75 Unit Portfolio | Lakewood OH
Lakewood, OH


HIGHLIGHTS

  • Prime location | Lakewood’s Prestigious Gold Coast
  • 92% occupied
  • Proforma Cap - 9.7%
  • 29 spacious two bed units & 46 one bed units
  • 75-80% of units already renovated
  • Over $1.2M in capital improvements since 2022

OVERVIEW

Rare Investment Opportunity in Lakewood’s Prestigious Gold Coast Submarket! Seize the chance to acquire a 75-unit portfolio in Cleveland’s highly coveted Lakewood Gold Coast. This portfolio features two well-maintained properties on Clifton Blvd: The Traymore, offering 29 spacious two-bedroom units, and Clifton Cove, with 46 one-bedroom units. With 75-80% of units already renovated and $1.2M in recent capital improvements since 2022, the properties boast stability and minimal immediate work required. Based on the current rent roll and normalized expenses, the portfolio delivers an impressive 8.3% cap rate with a clear roadmap to achieve double-digit returns. Currently at 92% occupancy, investors can enjoy strong cash flow from day one, with additional value-add potential through cosmetic updates and rent optimization. Situated in one of Cleveland’s top-performing rental markets, this portfolio is a prime opportunity to secure high returns in a desirable, high-demand location.

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