20580 Lorain Rd - Apartments FOR SALE


Fairview Park, OH 44126
$3,550,000 USD
216-525-1491
20580 Lorain Rd, Fairview Park, OH for Sale
$3,550,000 USD
Apartments - FOR SALE
1/25
null | 7.89% Cap Rate

20580 Lorain Rd
Fairview Park, OH 44126


HIGHLIGHTS

  • Consistently maintaining high occupancy levels of 95% or above.
  • Recent property enhancements including new roofs installed 11/2023, window replacements, and modern functionality and aesthetics updates.

OVERVIEW

Consistently maintaining high occupancy levels of 95% or above. A select number of units have undergone tasteful remodeling, featuring LVT flooring. Every unit boasts the convenience of an in-suite washer and dryer. Recent property enhancements include new roofs installed in November 2023, along with the replacement of several windows, ensuring modern functionality and aesthetics. Projected Net Operating Income (NOI) for 2025 is $280,000. Five mile population of over 233,000. Five mile average household income of over $100,000.

FOR SALE DETAILS

PRICE

$3,550,000 USD

PRICE/SF

$118 USD /SF

# OF UNITS

30

PRICE/UNIT

$118,333

CAP RATE

7.89%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Royal Oaks

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1955

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.41 AC

LAND SF

61,420 SF

ZONING

A, Cleveland

APN/PARCEL ID

323-20-002

ASK ABOUT THIS PROPERTY

Kirsten ParatoreCushman & Wakefield | CRESCO Real EstateMore Info
216-525-1491

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Kirsten ParatoreCushman & Wakefield | CRESCO Real EstateMore Info
216-525-1491

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