1400 Ranchland Dr
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1400 Ranchland Dr
16 Unit Apartment Building For Sale Mayfield Heights, OH 44124
Investment Highlights
- Proven Value-Add Opportunity: Approximately 5 of the 16 units have been renovated that are generating rent premiums between $300-600/month.
- Prime Location: Ranchland Gardens is located at the intersection of Mayfield Rd and Ranchland Drive surrounded by numerous walkable retail amenities
- Spacious Layouts: Each town-home is a two-story building plus a basement with 2 beds and one and a half bath.
- Significant Upside Through Organic Rent Growth: Current rents are 20%+ below market.
- Proven Operating History: The property is currently 100% occupied and has been consistently full for years.
- Unique Features: Each town-home comes with a ground level patio and an upstairs balcony off of the master bedroom.
Executive Summary
CBRE OH Multifamily is pleased to present the exclusive listing of 1400 Ranchland for sale to qualified investors. The acquisition of this asset offers investors the compelling opportunity to own 16 townhome style apartments in Mayfield Heights.
Property Facts
| Sale Type | Investment | Lot Size | 0.73 AC |
| No. Units | 16 | Building Size | 26,400 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low Rise | Year Built | 1965 |
| Building Class | C | Parking Ratio | 0.98/1,000 SF |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 26,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.98/1,000 SF |
Unit Amenities
- Balcony
- Heating
- Kitchen
1 of 1
Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 861-05-077 | Improvements Assessment | $245,280 |
| Land Assessment | $49,350 | Total Assessment | $294,630 |
PROPERTY TAXES
Parcel Number
861-05-077
Land Assessment
$49,350
Improvements Assessment
$245,280
Total Assessment
$294,630
zoning
| Zoning Code | N/Av, Mayfield |
| N/Av, Mayfield |
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1400 Ranchland Dr
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