Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1958
Sq.Footage
16,521
Stabilized 18-unit multifamily portfolio in great rental market! Consisting of two neighboring brick apartment buildings in South Euclid, these units offer immediate cash flow with limited deferred maintenance and room for continued rent growth. The property includes sixteen 2-bedroom and two 1-bedroom apartments and is currently producing an 7.73% cap rate with a projected 8.69% pro forma cap rate through normal lease renewals and one remaining vacancy. Ownership has invested over $224,000 in recent capital improvements, including renovated kitchens and baths, updated flooring, electrical panel upgrades, mechanical improvements, security cameras, and a new roof on 885 S. Green (2025). Building 885 features central air, 10 garage spaces, 6 surface parking spaces, owner-owned laundry, newer furnaces and hot water tanks. Building 893 offers 8 garage spaces, 4 surface spaces, owner-owned laundry, updated units, one commercial hot water tank, and one vacant unit ready for lease-up. Located next to the Euclid Creek Reservation and minutes from Cleveland Clinic, University Hospitals, Beachwood, Cleveland Heights, shopping, dining, and Metroparks, this is an excellent opportunity to acquire a well-maintained investment property with stable income and long-term appreciation. Seller is also selling 24 units across the street. Buyers interested in the entire 42 units will have the opportunity to quality for up to 15% of seller financing.
Features & Amenities
Interior
-
Other Interior Features
Storage
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
YES
-
Cooling YN
YES
-
Cooling
Central Air, Window Unit(s)
-
Heating YN
YES
-
Heating
Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Carport, Detached Carport, Driveway, Detached, Garage, Off Street, Parking Lot
-
Pool
No
Area & Lot
-
Lot Size(acres)
1.086
-
Property Type
Commercial Sale
-
Property Sub Type
Apartment
Price
-
Sales Price
$1,799,000
-
Tax Amount
$39,588
-
Zoning
Multi-Family
-
Sq. Footage
16,521
-
Price/SqFt
$108
HOA
-
Association
N/A
School District
-
Elementary School
South Euclid-Lyndhurst - 1829
-
Middle School
South Euclid-Lyndhurst - 1829
-
High School
South Euclid-Lyndhurst - 1829
Property Features
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Cuyahoga
Elementary School
South Euclid-Lyndhurst - 1829
Middle School
South Euclid-Lyndhurst - 1829
High School
South Euclid-Lyndhurst - 1829
Listing Courtesy of Erin Thomas, Keller Williams Living
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AGENT
Keith Vanke
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