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Home For Sale Ohio Cleveland 5461
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Apartment Building For Sale By Owner

32 Units - $149k




1847 Lee Blvd, Cleveland, Ohio 44112 United States
Description

Green Bridge Real Estate is pleased to present an ideal value-added
opportunity with the Lee Euclid Apartments located at 1847 Lee Blvd. in
East Cleveland, Ohio. An approx. 24,245 Sq.Ft. 32 Unit Apartment Building
on 1.338 Total Acres built in 1951 and For Sale for $149,000 or $4,656 per
unit. The 32 Unit Walk up, Garden Style Apartment building consists of two
3 story brick buildings consisting with Thirty Two (32) One Bedroom, One
Bathroom units. Cooking Gas and Electric is sub-metered (Tenant Paid).
Large Floorplans, Surface Parking Lot with Covered Parking area that can
be rebuilt. For estimation and demonstration purposes, this renovation
could range between $375,000 to $525,000 depending on finish. Please use
your own estimates. Comparables reflect similar finished, renovated
properties at $40,000+ per unit.
Projected Cap Rate at 90% Occupancy with a $480,000 Renovation
($15,000 per suite) is 17.02%. Free and Clear Title.
The property is near the Cleveland Clinic Hospital’s World Headquarters and
Case Western Reserve University. Several Bus Stops within walking
distance.
General Information
Taxing Authority: Cuyahoga County
Tax ID/APN: 673-08-064
Multi-Family Type: Low-Rise/Garden
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: The Lee Euclid Apartments
Total Number of Units: 32

Building/Unit Size (RSF): 24,245 SF
Land Area: 1.34 Acres
Sale Terms: Cash to Seller
Cap Rate: 17.02%
Average Occupancy Rate: 0

OccupancyOccupancy
Percent Occupied: 0%
Building Related
Total Number of Buildings: 2
Property Condition: Needs Renovation
Number of Stories: 3
Year Built: 1951
Roof Type: Flat

Construction/Siding: Brick
Parking Type: Structure, Surface
Passenger Elevators: 0
Freight Elevators: 0
Laundry: Shared

Location
Address: 1847 Lee Blvd, East Cleveland, OH 44112
County: Cuyahoga
MSA: Cleveland-Elyria

Price: $85,000
Property Sub-Type: Apartment Building
Listing ID: 5461
Attachments

Map of: 1847 Lee Blvd, Cleveland, Ohio 44112 United States

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