615 E Iron Ave - Apartments FOR SALE


Dover, OH 44622
$6,717,600 USD
330-663-3164
615 E Iron Ave, Dover, OH for Sale
$6,717,600 USD
Apartments - FOR SALE
1/8
null | 6% Cap Rate

615 E Iron Ave
Dover, OH 44622


OVERVIEW

Rare Pre-Construction Investment Opportunity – High-Demand Market Iron 24 is a first-of-its-kind, high-end townhome development in Dover, OH, offering a unique investment opportunity in a market with virtually no competition. The area faces a severe housing shortage, especially for high-quality rentals catering to professionals. With zero comparable properties in the region, Iron 24 is set to dominate the market upon completion in February 2026. Market Advantage: Severe Housing Shortage: Limited availability of modern, high-quality rental properties in the area. Zero Direct Competition: No comparable luxury townhome communities exist within the market. First of Its Kind: The only new construction townhome project designed to meet the increasing demand for high-end rental housing. Built-In Tenant Demand: Located near Cleveland Clinic Union Hospital, ensuring a steady stream of medical professionals and corporate tenants seeking premium housing. City Support & No Zoning Hurdles: Strong municipal backing, expediting approvals and minimizing development risk. Projected Financials: 24 Units | 2-3 Bedroom Luxury Townhomes Monthly Rent: $2,000 per unit Annual Gross Rental Income: $576,000 Total NOI: $403,200 Cap Rate: 6% Turnkey Investment: Prime opportunity for long-term cash flow and appreciation This rare opportunity allows investors to secure a premium asset before completion, ensuring maximum upside potential in a rapidly growing market.

FOR SALE DETAILS

PRICE

$6,717,600 USD

PRICE/SF

$217 USD /SF

# OF UNITS

24

PRICE/UNIT

$279,900

CAP RATE

6%

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Iron 24

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

-

APN/PARCEL ID

1001193000,1001592000

ASK ABOUT THIS PROPERTY

Austin WoodBuilder Bros ConstructionMore Info
330-663-3164

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Austin WoodBuilder Bros ConstructionMore Info
330-663-3164

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