Offering Summary
Imagine owning a stabilized, cash flow positive, violation free investment property in South Euclid, OH! The two, 8-suiter buildings (total of 16 suites) sits on a mature landscaped, one acre corner lot. All suites have been renovated during the past several years. Newer energy efficient Lochinbar boilers in both boiler rooms, new windows in one of the buildings, fresh common areas, 18 garage parking spaces, 16 additional surface parking spaces. Tenants have in-wall air conditioning units and 2 laundry rooms on-site.
Additional Property Highlights:
- Tenants pay for their own electric
- Owner pays for heat, water and sewer
- Building has been pre-approved by USBank based on these financials and a credit worthy borrower.
Submarket Overview
Located near the Metro Parks, and Cleveland's diverse shopping districts. Born from the quarries that built Greater Cleveland's first sidewalks and streets, South Euclid today is home to Notre Dame College, University Suburban Health Center, Regina High School, Cedars On The Green Pediatric Health Center, Transdigm Corporation, AeroControlex Group and The Rochling Glastic Corporation.
South Euclid offers a central location in Greater Cleveland means that we are minutes from Cleveland' s finest shopping and cultural districts, and quick access to freeways will take you to downtown Cleveland or out to the countryside, all within 20 minutes!
Submarket Demographics |
| Submarket Population: | 23,537 |
| Renter Occupied Housing: | 15.5% |
| Submarket Trend: |
Stable
|
Property Facts |
| Location: | 4333 Bluestone Drive, South Euclid, OH |
| Number of Units: | 16 |
| Offering Price: | $549,000 |
| |
| Net Operating Income: | 47,518 |
| Cap Rate: | 8.66% |
| Building Occupancy: | 100% |
| Year Built: | 12/26/2009 |
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| Unit Mix: |
| Units | Type |
Avg. Rent |
| 16 | Two Bedroom Suites | $650 |
|