Shakertowne Apts | 30-Unit Multifamily Multi-Family FOR SALE


Shaker Heights, OH
$1,800,000 USD
440-526-9400
, Shaker Heights, OH for Sale
$1,800,000 USD
Multi-Family - FOR SALE
1/62
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Shakertowne Apts | 30-Unit Multifamily
Shaker Heights, OH


HIGHLIGHTS

  • 30 one-bed units in CLE’s Larchmere District
  • High-demand rental submarket
  • 20 units recently renovated - modern kitchens, baths, flooring & fixtures
  • Refreshed common areas w/ new paint, lighting & flooring
  • Separate value-add SFH included - rental or resale opportunity
  • Stabilized cash flow w/ clear path to double-digit returns

OVERVIEW

This offering presents investors with an extremely rare chance to acquire a 30-unit multifamily asset in Cleveland’s sought-after Larchmere District, a submarket experiencing significant growth and revitalization. The property is comprised of 30 one-bedroom units, 20 of which have undergone recent renovations including modern kitchens, updated bathrooms, vinyl flooring, and new fixtures, complemented by refreshed common areas with new paint, lighting, and flooring. Additionally, a large single-family home situated on a separate lot provides a compelling value-add opportunity—either as a high-premium rental unit or a resale project yielding substantial equity upside. The asset is well-positioned for increased cash flow and double-digit returns through modest rent growth on renewals. With boiler heat, chiller cooling, and strong tenant demand in this thriving district, the property offers investors a stabilized, income-producing building with exceptional long-term upside.

ASK ABOUT THIS PROPERTY

Ted ShoafRussell Real Estate ServicesMore Info
440-526-9400

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Ted ShoafRussell Real Estate ServicesMore Info
440-526-9400

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