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13995-14015 Superior Rd
Cleveland, OH 44118 East Cleveland

$2,899,000 USD

Apartments For Sale  •  188,000 SF

Property Details

  • Property Type Apartments
  • Total Building Size 188,000 SF
  • Lot Size 1.48 AC
  • Building Class C
  • Year Built 1949
  • Zoning U2-H3+
49 Transit Score
48 Walk Score

Highlights

The Forest Hill Park Apartments are presented with a projected cap rate at 90% occupancy with a $30,000/ suite renovation is 23.97%.
There are 174 units with an excellent unit-mix with 115 two-bedroom suites and 28-three bedroom suites.
First position, seller financing is available to qualified investors with 25% down, 6.0% interest (APR), 25 year amort., balloon payment in four yrs.
Possible Tax Abatement - Low-Income Housing Tax Credits (LIHTC), Historic Tax Renovation Credits, and other programs could be available.
Local comparables reflect similar finished, renovated properties transferring at $75,000+ per unit.
The property is delivered vacant and offers a quick-start renovation.

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Cable Ready
  • Clubhouse
  • Laundry Facilities
  • Kitchen
  • Views
  • Elevator
  • Wheelchair Accessible (Rooms)
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
Cleveland Lakefront Station (Blue Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid), Green Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid)) 18 min - 8.0 mi
Transit/SubwayDriveWalkDistance
Superior (Red Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid)) 1 min 14 min 0.7 mi
AirportDriveWalkDistance
Cleveland-Hopkins International 35 min - 19.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 100
Type: Covered
Included in Rent: Yes
Matthew King 440-552-5858 Green Bridge Real Estate
Matthew King 440-552-5858 Green Bridge Real Estate