8702 Detroit Ave Immeuble residentiel 15 lots 827 744 € (55 183 €/Lot) Taux de capitalisation 9,31 % Cleveland, OH 44102

Gordon Square Mixed-Use Apartments is a stabilized, cash-flowing investment opportunity located in one of Cleveland’s fastest-growing neighborhoods. This 3-story mixed-use building consists of 15 residential units (a mix of 1- and 2-bedrooms) and 1 ground-floor retail space. The residential units are 100% occupied, offering strong in-place income, while the vacant retail unit provides immediate value-add potential through lease-up or creative reuse.
In 2021, ownership completed extensive capital improvements, enhancing long-term performance and reducing future capital expenditure risk.
Recent Renovations (2021):
• Full electrical upgrades in all units
• New windows throughout
• New rear steel doors and main entrance doors
• In-unit electric hot water tanks
• New furnaces in each unit – tenants pay heat and electric
• New main water line from street with potential for unit sub-metering
Investment Highlights:
? 15 Fully Occupied Residential Units – Consistent cash flow from day one
?? 1 Ground-Floor Retail Unit – Vacant, prime value-add through lease-up
??? Comprehensive 2021 Renovations – Major systems already updated
?? Operational Efficiency – Tenants pay all utilities (electric, heat, hot water)
?? Rent Upside – Apartment rents are $200+ below market on average
?? Exceptional Location – In the heart of Gordon Square Arts District, a rapidly gentrifying and walkable neighborhood
??? Neighborhood Momentum – Surrounded by new development, restaurants, entertainment, and public transit