14012 Lakeshore Blvd | Cleveland, OH 44110
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- LoopNet Team
14012 Lakeshore Blvd
Cleveland, OH 44110
Lake Shore Blvd Apts · Multifamily Property For Sale
·
88 Units
INVESTMENT HIGHLIGHTS
- Projected Cap Rate at 90% Occupancy with a $40,000 per Suite Renovation is 12.25%.
- Overlooks Lake Erie and is located near the prestigious Village of Bratenahl
- Property is Vacant and offers a quick start of renovation
- Possible Tax Abatement, Low Income Housing Tax Credits (LIHTC), Historic Tax Renovation Credits and other programs could be available
- Comparables reflect similar finished, renovated properties transferring at $70,000+ per unit
- Great Value-added opportunity
PROPERTY FACTS
| No. Units | 88 | Building Size | 82,620 SF |
| Property Type | Multifamily | Average Occupancy | 0% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Low-Rise | Year Built | 1930 |
| Building Class | C | Parking Ratio | 1.02/1,000 SF |
| Lot Size | 1.23 AC | ||
| Zoning | MFC-2, Cleveland | ||
| No. Units | 88 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.23 AC |
| Building Size | 82,620 SF |
| Average Occupancy | 0% |
| No. Stories | 4 |
| Year Built | 1930 |
| Parking Ratio | 1.02/1,000 SF |
| Zoning | MFC-2, Cleveland |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Wheelchair Accessible
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 18 | $851.00 | 250 |
| 1+1 | 14 | $958.00 | 300 - 450 |
| 2+1 | 48 | $1,163 | 450 - 500 |
| 3+1 | 8 | $1,505 | 750 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $146,895 | |
| Land Assessment | $35,175 | Total Assessment | $182,070 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$35,175
Improvements Assessment
$146,895
Total Assessment
$182,070
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