Offering Summary
Great Condition - 10 Studio's and 1 one-bedroom apartment. Located minutes from the Rocky River Reservation Park System. Brick exterior, many upgrades throughout building. Individually metered electric (tenants pay). Several upgrades, including many kitchen remodels. Brand new school across the street - very convenient for tenants with school aged children.
Submarket Overview
Located in Lakewood, OH and within close proximity to downtown Cleveland, shopping, restaurants and entertainment venues. Lakewood offers the amenities of downtown living with the charm of a small town
Submarket Demographics |
| Submarket Population: | 56,646 |
| Renter Occupied Housing: | 51.5% |
| Submarket Trend: |
 Stable
|
Property Facts |
| Location: | 16408 Madison Ave., Lakewood, OH |
| Number of Units: | 11 |
| Offering Price: | $332,000 |
| |
| Net Operating Income: | $24,577 |
| Cap Rate: | 7.4% |
| Building Occupancy: | 100% |
| Year Built: | 08/04/2008 |
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| Unit Mix: |
| Units | Type |
Avg. Rent |
| 2 | 1 Bedroom | $430 |
| 9 | Studio | $389 |
|
