16218 Maple Heights Blvd - Apartments FOR SALE


Maple Heights, OH 44137
$2,850,000 USD
216-264-2048
16218 Maple Heights Blvd, Maple Heights, OH for Sale
$2,850,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

16218 Maple Heights Blvd
Maple Heights, OH 44137


HIGHLIGHTS

  • Owned and managed by local private family
  • Current rents $100+ below competing properties
  • Attached garage parking space for all units
  • Less than 10 minutes from 3 major hospitals – University Hospitals Ahuja Center, Cleveland Clinic Marymount Hospital, and Cleveland Clinic South Point
  • Less than 20 minutes from 3 Fortune 500 Headquarters – Progressive Insurance, Eaton Corporation, and Parker Hannifin

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire 60-units in Maple Heights, Ohio. The Saxony gives investors the opportunity to execute a value-add program on a stable asset in close proximity to 3 major hospitals and 3 Fortune 500 companies. With a clear comp set, renovated units at similar vintage properties average $125+ higher rents on one bedroom units and $225+ on two bedroom units. Investors will additionally be able to leverage the competitive advantage of having attached garage parking for each unit.

FOR SALE DETAILS

PRICE

$2,850,000 USD

PRICE/SF

$46 USD /SF

# OF UNITS

60

PRICE/UNIT

$47,500

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Saxony Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1959

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.82 AC

LAND SF

79,184 SF

ZONING

Commercial

APN/PARCEL ID

781-12-021

ASK ABOUT THIS PROPERTY

Michael BarronInstitutional Property AdvisorsMore Info
216-264-2048

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Michael BarronInstitutional Property AdvisorsMore Info
216-264-2048

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