11105 Fortune Ave | Cleveland, OH 44111
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- LoopNet Team
11105 Fortune Ave
Cleveland, OH 44111
Fortune Apartments · Multifamily Property For Sale
·
26 Units
INVESTMENT HIGHLIGHTS
- Sits on 3 parcels - one can be converted to parking lot for additional revenue.
- Storage space in basement about 2500 sq can be converted to rentable storage units to apartments for Value add income
- Rents still have Plenty of headroom in rents for the market - can be increased by end of 2023 add about $24,000 in annual rent
- Great proximity to Bus, Tain and Downtown Cleveland Financial Districts less than 10 minutes
PROPERTY FACTS
| No. Units | 26 | Building Size | 20,460 SF |
| Property Type | Multifamily | Average Occupancy | 88% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1920/2021 |
| Building Class | C | Parking Ratio | 0.98/1,000 SF |
| Lot Size | 0.60 AC | ||
| Zoning | 2F-B1 - Two Family | ||
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 20,460 SF |
| Average Occupancy | 88% |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2021 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | 2F-B1 - Two Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | $645.00 | 610 - 640 |
| 1+1 | 19 | $770.00 | 720 - 740 |
| 2+1 | 3 | $870.00 | 840 |
| 3+1 | 1 | $1,000 | 980 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $380,590 | |
| Land Assessment | $27,475 | Total Assessment | $408,065 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$27,475
Improvements Assessment
$380,590
Total Assessment
$408,065
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