Shaker Hall | 12700 Shaker Blvd
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Shaker Hall 12700 Shaker Blvd
103 Unit Apartment Building $7,000,000 ($67,961/Unit) 7% Cap Rate Cleveland, OH 44120
Investment Highlights
- Over $700,000 in Recent Upgrades
- Highly Walkable Location
- Garage Parking
Executive Summary
Shaker Hall consists of 103 units in Cleveland's Historic Shaker Square Neighborhood. The property has recently undergone extensive capital repairs, including upgrades to suites and common areas, elevator upgrades, and roof updates. Opportunity exists for a new investor to continue unit upgrades and take advantage of rising rental rates in this submarket.
Shaker Hall is a seven-story elevator building with garage parking and coin laundry. Owner pays for gas heat, electric, water and sewer utilities. Tenants are blocks from local shops, restaurants, and public transportation available at Shaker Square as well as being minutes from major employers in the Eastern Suburbs, University Circle, and Downtown Cleveland.
Shaker Hall is a seven-story elevator building with garage parking and coin laundry. Owner pays for gas heat, electric, water and sewer utilities. Tenants are blocks from local shops, restaurants, and public transportation available at Shaker Square as well as being minutes from major employers in the Eastern Suburbs, University Circle, and Downtown Cleveland.
Property Facts
| Price | $7,000,000 | Apartment Style | Mid Rise |
| Price Per Unit | $67,961 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.85 AC |
| Cap Rate | 7% | Building Size | 130,612 SF |
| No. Units | 103 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 1957 |
| Price | $7,000,000 |
| Price Per Unit | $67,961 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 103 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.85 AC |
| Building Size | 130,612 SF |
| Average Occupancy | 90% |
| No. Stories | 6 |
| Year Built | 1957 |
Site Amenities
- Laundry Facilities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 84 | $995.00 | - |
| 2+1 | 12 | $1,150 | - |
Walk Score ®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 129-10-002 | Improvements Assessment | $583,625 |
| Land Assessment | $59,955 | Total Assessment | $643,580 |
PROPERTY TAXES
Parcel Number
129-10-002
Land Assessment
$59,955
Improvements Assessment
$583,625
Total Assessment
$643,580
zoning
| Zoning Code | MF-2 |
| MF-2 |
-
Nick Soeder -
Benjamin Baker -
Adams Lynch Associates
(216) 862-5616
x700
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Shaker Hall | 12700 Shaker Blvd
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