880-884 Parkwood Rd 13 Unit Apartment Building $250,000 ($19,231/Unit) Cleveland, OH 44108

Attention all contractors and investors, 880-884 Parkwood Road presents an amazing opportunity to renovate a 13-unit multifamily apartment building, being sold as part of a site-assembly totaling five parcels.

The buildings are all-brick and were built in 1910. They span three two-story buildings that connect from the exterior facade. Proposed plans consist of 3 styles of one-bedroom, two-bedroom, and three-bedroom apartments all separately metered. The units feature high ceilings, four season rooms, offer an abundance of natural light and charming decorative fireplaces with desirable layouts for future renters.

The apartments are surrounded by new-build construction in an ever-vast growing Glenville neighborhood of Cleveland. Nearby are all major hospitals, easy highway
accessibility, and situated within a school zone.

The majority of the demo has already been completed, offering the next owner a chance to finish existing plans in-place or the option to make their own personal customizations. A common basement with storage lockers, a laundry room, and the possibility to create an additional garden style apartment are all possible. The L-shape site assembly includes four V/L parcels zoned MF & Residential that could be used for on-site parking or future development. The site plan, architectural drawings, and environmental reports have been completed, a value-saving for future buyers.

880-884 Parkwood Road is conveniently located within a 1-mile radius from UH Rainbow Babies & Children Hospital, Veteran Hospital, Rockefeller Park, The Cleveland Museum of Art & Natural History, 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.