Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1951
Sq.Footage
N/A
Rare opportunity to acquire a stabilized, 65-unit condo portfolio within a 268-unit community in the high-demand submarket of Euclid, Ohio offering both immediate yield and long-term upside. Comprising entirely of two-bedroom, one-bath townhome style units, this portfolio sits at 98% occupancy and is operating at a strong 9+% cap rate on actuals based on an asking price of $3.5M, with a clear trajectory to exceed double-digit returns through strategic rent increases on renewals. Currently grossing nearly $60,000 per month, the portfolio has a proforma monthly rent of over $66,000 once minor rent bumps are put into place. The majority of units were renovated between 2023 and 2025, minimizing near-term capital needs and enhancing tenant appeal. As the majority owner in the community, the new owner will gain substantial influence over community decisions, positioning them to drive value through strategic enhancements and governance. This is a rare chance for sophisticated investors to secure scale, control, and performance in a tight rental market. Serious inquiries only.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
YES
-
Heating YN
YES
-
Heating
Forced Air
Exterior
-
Garage
No
-
Pool
No
Area & Lot
-
Lot Size(acres)
1.67
-
Property Type
Commercial Sale
-
Property Sub Type
Apartment
Price
-
Sales Price
$3,500,000
-
Tax Amount
49106.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Euclid CSD - 1813
-
Middle School
N/A
-
High School
N/A
Property Features
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Cuyahoga
Elementary School
Euclid CSD - 1813
Middle School
High School
Listing Courtesy of Tal Tamir , Russell Real Estate Services
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