1608 Coventry Rd - Apartments FOR SALE


Cleveland, OH 44118
$1,417,500 USD
440-346-2031
1608 Coventry Rd, Cleveland, OH for Sale
$1,417,500 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

1608 Coventry Rd
Cleveland, OH 44118


HIGHLIGHTS

  • Celestial II is a stabilized, 27,541-square-foot, three-story apartment building offering 21 units and management on-site.
  • Cleveland residents enjoy the Edgewater Park Beach, the Greater Cleveland Aquarium, the House of Blues, the Cleveland Metro Zoo, and more.
  • The subject presents new ownership with a high-occupancy, income-generating asset that will be primarily a hands-off investment.
  • Celestial II has a one-mile population of 13,561 and an average household income surpassing $77,100.

OVERVIEW

Welcome to Celestial II, a fantastic multifamily investment opportunity at 1608 Coventry Road. This all-brick building features 21 apartments, a mix of two-bedroom and one-bath units. Ownership pays for heat, sewer, and water, while tenants pay for cooking gas and electricity. The building and property are well maintained, and the current manager may be willing to stay after the title transfer. This turnkey building is currently fully occupied and offers immediate returns with the potential to increase rents in the future. It is a great opportunity for investors. As you view it, you'll love its beautiful architecture and exemplary charm!

FOR SALE DETAILS

PRICE

$1,417,500 USD

PRICE/SF

$51 USD /SF

# OF UNITS

21

PRICE/UNIT

$67,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Celestial II

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1948

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,499 SF

ZONING

UT-A3H2

APN/PARCEL ID

672-26-082

ASK ABOUT THIS PROPERTY

Joseph ZingalesJoseph ZingalesMore Info
440-346-2031

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Joseph ZingalesJoseph ZingalesMore Info
440-346-2031

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