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880-884 Parkwood Rd

13 Unit Apartment Building $359,900 ($27,685/Unit) Cleveland, OH 44108

Investment Highlights

  • The building is an all-brick 1910 build, featuring three 2-story buildings with separate metered apartments.
  • The site assembly includes four V/L parcels for onsite parking or future development.

Executive Summary

Attention all Contractors, Investors, amazing opportunity to renovate Multi-Family 13 Unit Apartment Building, being sold as part of a site-assembly total of 5 parcels. All-brick, 1910 build, three 2-story buildings that connect from the exterior facade. Proposed plans consist of 3 styles of One Bedroom; Two Bedroom & Three Bedroom apartments all separately metered. Featuring high ceilings; four season rooms; abundance of natural light and charming decorative fireplaces with desirable layouts for future renters. Surrounded by new build construction in an ever vast growing Glenville neighborhood of Cleveland! Nearby all major hospitals; easy highway accessibility; situated within a school zone. Majority of the demo has already been completed, offering the next owner a chance to finish existing plans in place or option to make their own personal customizations. Common basement with storage lockers; laundry room and possibility to create an additional garden style apartment. The L-shape site assembly includes four V/L parcels zoned MF & Residential that could be used for onsite parking or future development. Site plan; architectural drawings & environmental have been completed~valuesavings for future buyers! Conveniently located within a 1 mile radius from UH Rainbow Babies & Children Hospital, Veteran Hospital; Rockefeller Park, Cleveland Museum of Art & Natural History Museum and Cleveland Botanical Gardens. This is a fantastic opportunity to purchase a Value Add play in a Class C Neighborhood with a huge upside for a bargain price!

Data Room Click Here to Access

Property Facts

Price $359,900
Price Per Unit $27,685
Sale Type Investment
No. Units 13
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.27 AC
Building Size 16,824 SF
No. Stories 2
Year Built 1910
Parking Ratio 0.89/1,000 SF
Opportunity Zone Yes

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Microwave
  • Heating
  • Tile Floors
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Wi-Fi
  • Freezer

Site Amenities

  • 24 Hour Access
  • Controlled Access

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 13 - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
108-27-023
Land Assessment
$4,590
Improvements Assessment
$15,650
Total Assessment
$20,230

zoning

Zoning Code MF-1
MF-1
  • Listing ID: 33413862

  • Date on Market: 10/4/2024

  • Last Updated:

  • Address: 880-884 Parkwood Rd, Cleveland, OH 44108

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