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Harwood Apartments 17901 Lake Shore Blvd Immeuble residentiel 18 lots 1 109 039 € (61 613 €/Lot) Taux de capitalisation 8,50 % Cleveland, OH 44119
Certaines informations ont été traduites automatiquement.
INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- Numbers-driven
- Strong rental location
- Balances stability and upside
RÉSUMÉ ANALYTIQUE
Property Description:
17901 Lakeshore Blvd presents a rare opportunity to acquire a fully occupied, 18-unit apartment building in Cleveland’s high-demand Lakeshore corridor. This well-maintained property (built in 1977) features 9 one-bedroom (avg. 750 SF) and 9 two-bedroom units (avg. 925 SF), offering a balanced mix for stable cash flow. Recent upgrades include roofs (2017), updated boiler systems, new electrical panels, and landscaped grounds, minimizing immediate capital needs. With 100% occupancy and in-place rents below market rates, investors can unlock immediate upside through strategic rent increases. The prime location provides walkable access to Lake Erie, shopping centers, and quick commutes to downtown Cleveland, universities, and major employers.
Financial Highlights:
Priced at $1,290,000 ($71,666/unit), this asset delivers an 8.5% cap rate with an annual NOI of $105,665. Current gross rents total $193,376, with 1-bedrooms averaging $840/month (vs. $869 market) and 2-bedrooms at $933/month (vs. $1,037 market), creating a potential $28,728 annual income boost. The GRM of 6.67 underscores strong value relative to peer properties. Expense ratios are optimized with recent system upgrades, and long-term tenants reduce turnover costs.
Investment Value:
This property is ideal for investors seeking low-risk value-add potential. Below-market rents allow for gradual increases, while the 100% occupancy and updated infrastructure ensure immediate cash flow. Demographics show strong demand, with a 5-mile population of 174,362 and median household income of $56,574. The Lakeshore location also attracts professionals and students, with proximity to Case Western Reserve University and Cleveland Clinic ensuring consistent rental demand.
Sale Terms:
Seller will consider all-cash or conventionally financed offers with a 30-day due diligence period and 45-day closing timeline. Proof of funds or lender pre-approval is required for offer submission.
Video: https://youtu.be/c8AtAXD5O-4?si=p77coE80ljvmhBVO
17901 Lakeshore Blvd presents a rare opportunity to acquire a fully occupied, 18-unit apartment building in Cleveland’s high-demand Lakeshore corridor. This well-maintained property (built in 1977) features 9 one-bedroom (avg. 750 SF) and 9 two-bedroom units (avg. 925 SF), offering a balanced mix for stable cash flow. Recent upgrades include roofs (2017), updated boiler systems, new electrical panels, and landscaped grounds, minimizing immediate capital needs. With 100% occupancy and in-place rents below market rates, investors can unlock immediate upside through strategic rent increases. The prime location provides walkable access to Lake Erie, shopping centers, and quick commutes to downtown Cleveland, universities, and major employers.
Financial Highlights:
Priced at $1,290,000 ($71,666/unit), this asset delivers an 8.5% cap rate with an annual NOI of $105,665. Current gross rents total $193,376, with 1-bedrooms averaging $840/month (vs. $869 market) and 2-bedrooms at $933/month (vs. $1,037 market), creating a potential $28,728 annual income boost. The GRM of 6.67 underscores strong value relative to peer properties. Expense ratios are optimized with recent system upgrades, and long-term tenants reduce turnover costs.
Investment Value:
This property is ideal for investors seeking low-risk value-add potential. Below-market rents allow for gradual increases, while the 100% occupancy and updated infrastructure ensure immediate cash flow. Demographics show strong demand, with a 5-mile population of 174,362 and median household income of $56,574. The Lakeshore location also attracts professionals and students, with proximity to Case Western Reserve University and Cleveland Clinic ensuring consistent rental demand.
Sale Terms:
Seller will consider all-cash or conventionally financed offers with a 30-day due diligence period and 45-day closing timeline. Proof of funds or lender pre-approval is required for offer submission.
Video: https://youtu.be/c8AtAXD5O-4?si=p77coE80ljvmhBVO
DATA ROOM Cliquez ici pour accéder à
BILAN FINANCIER (RÉEL - 2024) Cliquez ici pour accéder à |
ANNUEL | ANNUEL PAR m² |
|---|---|---|
| Revenu de location brut |
$99,999
|
$9.99
|
| Autres revenus |
$99,999
|
$9.99
|
| Perte due à la vacance |
$99,999
|
$9.99
|
| Revenu brut effectif |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Frais d’exploitation |
$99,999
|
$9.99
|
| Total des frais |
$99,999
|
$9.99
|
| Résultat net d’exploitation |
$99,999
|
$9.99
|
BILAN FINANCIER (RÉEL - 2024) Cliquez ici pour accéder à
| Revenu de location brut | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
| Autres revenus | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
| Perte due à la vacance | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
| Revenu brut effectif | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
| Taxes | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
| Frais d’exploitation | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
| Total des frais | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
| Résultat net d’exploitation | |
|---|---|
| Annuel | $99,999 |
| Annuel par m² | $9.99 |
INFORMATIONS SUR L’IMMEUBLE
| Prix | 1 109 039 € | Classe d’immeuble | C |
| Prix par lot | 61 613 € | Surface du lot | 0,14 ha |
| Type de vente | Investissement | Surface de l’immeuble | 1 358 m² |
| Taux de capitalisation | 8,50 % | Occupation moyenne | 100% |
| Multiplicateur du loyer brut | 6.67 | Nb d’étages | 3 |
| Nb de lots | 18 | Année de construction | 1977 |
| Type de bien | Immeuble residentiel | Ratio de stationnement | 0,13/1 000 m² |
| Sous-type de bien | Appartement | Zone de développement économique [USA] |
Oui
|
| Style d’appartement | De faible hauteur | ||
| Zonage | MF-C1, Cleveland - utilisation multifamiliale | ||
| Prix | 1 109 039 € |
| Prix par lot | 61 613 € |
| Type de vente | Investissement |
| Taux de capitalisation | 8,50 % |
| Multiplicateur du loyer brut | 6.67 |
| Nb de lots | 18 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Surface du lot | 0,14 ha |
| Surface de l’immeuble | 1 358 m² |
| Occupation moyenne | 100% |
| Nb d’étages | 3 |
| Année de construction | 1977 |
| Ratio de stationnement | 0,13/1 000 m² |
| Zone de développement économique [USA] |
Oui |
| Zonage | MF-C1, Cleveland - utilisation multifamiliale |
CARACTÉRISTIQUES
CARACTÉRISTIQUES DU LOT
- Climatisation
- Balcon
- Broyeur d’ordures
- Espace d’entreposage
- Système de sécurité
- Ventilateurs de plafond
- Réfrigérateur
- Cuisinière
CARACTÉRISTIQUES DU SITE
- Terrain clôturé
- Laverie
- Système de sécurité
- Service de blanchisserie
- Transports en commun
LOT INFORMATIONS SUR LA COMBINAISON
| DESCRIPTION | NB DE LOTS | MOY. LOYER/MOIS | m² |
|---|---|---|---|
| 1+1 | 9 | 769,45 € | 70 |
| 2+1 | 9 | 855,42 € | 86 |
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TAXES FONCIÈRES
| Numéro de parcelle | 114-02-022 | Évaluation totale | 188 906 € |
| Évaluation du terrain | 13 270 € | Impôts annuels | -1 € (0,00 €/m²) |
| Évaluation des aménagements | 175 636 € | Année d’imposition | 2024 |
TAXES FONCIÈRES
Numéro de parcelle
114-02-022
Évaluation du terrain
13 270 €
Évaluation des aménagements
175 636 €
Évaluation totale
188 906 €
Impôts annuels
-1 € (0,00 €/m²)
Année d’imposition
2024
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VIDÉOS
VISITE 3D
PHOTOS
STREET VIEW
RUE
CARTE
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Présenté par
Harwood Apartments | 17901 Lake Shore Blvd
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