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13509-13511 Detroit Ave
Lakewood, OH 44107
Lakewood Pointe · Multifamily Property For Sale · 42 Units
PROPERTY FACTS
| No. Units | 42 | Building Size | 25,600 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built | 1962 |
| Building Class | C | Parking Ratio | 1.78/1,000 SF |
| Lot Size | 0.64 AC |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 25,600 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 1.78/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Tile Floors
- Refrigerator
- Satellite TV
- Oven
- Stainless Steel Appliances
- Range
- Carpet
- Yard
Site Amenities
- Laundry Facilities
- Property Manager on Site
About 13509-13511 Detroit Ave , Lakewood, OH 44107
Such a deal in such a location is rarely available! The Parkway Arms Apartments is a 42-unit, two-building apartment complex in a central location in ultra-desirable central Lakewood. Over the past five years, ownership has invested over $400,000 in capital improvements. One building has a brand-new roof, and the other is only a few years old. Stainless appliances, newer vinyl windows, hot-water boilers, and renovated kitchens/baths. After much time and hundreds of thousands of dollars, this property is a cash machine with high-quality tenants. When the current owner bought the property in 2014, he and his professional management team began raising rents to market. The owner still has considerable room to add value, but wishes to sell in order to pursue business opportunities out-of-state. The Parkway Arms Apartments is centrally-located in ultra-desirable Lakewood, one of the most in-demand apartment markets in Northeast Ohio. Right across the street from St. Edward's High School, a renowned local institution. Steps from shopping, dining, and entertainment options, and just ten minutes from Public Square and fifteen minutes from Cleveland-Hopkins International Airport.
PROPERTY TAXES
| Parcel Number | 315-04-009 | Improvements Assessment | $745,500 |
| Land Assessment | $68,250 | Total Assessment | $813,750 |
PROPERTY TAXES
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