430 Kenwood Dr - Apartments FOR SALE


Euclid, OH 44123
$3,400,000 USD
614-285-6505
430 Kenwood Dr, Euclid, OH for Sale
$3,400,000 USD
Apartments - FOR SALE
1/14
null | 9.31% Cap Rate

430 Kenwood Dr
Euclid, OH 44123


HIGHLIGHTS

  • Below Market Rents
  • Expansion Potential Within Community
  • Unrealized Income - Collect on Parking and Garage rentals
  • 97% Occupied
  • Reduced Maintenance Obligations - Community Maintained Property

OVERVIEW

ME Commercial is pleased to offer the opportunity to acquire full ownership of a portfolio consisting of 66 Condominiums, currently 97% occupied, within the community of Blisswood Village in Euclid, Ohio, a lakefront, family oriented suburb of Cleveland. A majority of these townhomes have been fully renovated and leased at markedly increased rents, presenting a strong potential return on investment along with an exclusive value-add opportunity to grow within this community. This portfolio sale is via sale of the current owner entity, which is entitled to continue operating a rental portfolio in this exclusive townhome community. With the acquisition of this entity, new owners will retain the opportunity to continue purchasing owner-occupied units and expand the portfolio, or to spin off units at retail pricing to owner-occupants, netting a significant yield to reclaim capital.

FOR SALE DETAILS

PRICE

$3,400,000 USD

PRICE/SF

$13 USD /SF

# OF UNITS

66

PRICE/UNIT

$51,515

CAP RATE

9.31%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Blisswood Townhome Portfolio

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1951

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.67 AC

LAND SF

72,745 SF

ZONING

-

APN/PARCEL ID

643-02-324,643-08-033

ASK ABOUT THIS PROPERTY

Noah YoderME CommercialMore Info
614-285-6505

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

Noah YoderME CommercialMore Info
614-285-6505

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