2617 Euclid Heights Blvd - Apartments FOR SALE


Cleveland Heights, OH 44106- Cedar-Fairmount
$859,000 USD
440-343-0314
2617 Euclid Heights Blvd, Cleveland Heights, OH for Sale
$859,000 USD
Apartments - FOR SALE
1/48
null | 7.47% Cap Rate

2617 Euclid Heights Blvd
Cleveland Heights, OH 44106
Cedar-Fairmount


HIGHLIGHTS

  • The Turtle Park Apartments present a well-maintained 8-unit building close to universities, Downtown, restaurants, retail, and public transportation.
  • The apartments were affectionately named after the charming community park/ playground that all residents nearby enjoy.
  • There are six parking spaces (three covered, three un-covered), motion-activated common area lighting, and on-site coin laundry.
  • East Cleveland is a continuously developing suburb with a strong sense of community.

OVERVIEW

The Turtle Park Apartments at 2617 Euclid Heights Boulevard present a charming eight-unit multifamily investment opportunity–Turtle Park Apartments. Charm and character abound in this exceptional income-generating opportunity in the heart of Cleveland Heights. The Turtle Park Apartments feature eight spacious suites; six three-bedroom/ one-bath and two two-bedroom/ one-bath units. As tenants have moved out, half of the units have been thoughtfully updated with new kitchens, baths, fresh paint, modern fixtures, appliances, and windows. This property is primed for strong returns with a proforma rental income of $10,250/ month. Key updates include plumbing and electrical improvements, as well as a repaired and updated main sewage line. The roof and boiler are in excellent condition and are regularly serviced. Additional features include motion-activated common area lighting for efficiency and safety and on-site coin laundry for additional income. Two vacant units are available for viewing; all updated units are currently rented. Photos showcase one updated unit and two non-updated units—all updated units reflect the updated unit photos. Ideally located near downtown, major hospitals, universities, and all that Coventry has to offer.

FOR SALE DETAILS

PRICE

$859,000 USD

PRICE/SF

$74 USD /SF

# OF UNITS

8

PRICE/UNIT

$107,375

CAP RATE

7.47%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turtle Park Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1917

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,621 SF

ZONING

MF3,Cleveland Hgts

APN/PARCEL ID

685-09-073

ASK ABOUT THIS PROPERTY

Rob GallmannRE/MAX Haven RealtyMore Info
440-343-0314

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Rob GallmannRE/MAX Haven RealtyMore Info
440-343-0314

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