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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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.

885 S Green Road

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Related Properties

24-unit multifamily property consisting of three  8-unit brick apartment buildings offering immediate cash flow with significant upside. Current financials include 4 vacant units currently being renovated and prepared for lease-up or buyers may submit offers based on the property's current condition and complete the remaining work themselves. The portfolio consists entirely of 24 2-bedroom, 1-bath apartments with tenants paying gas and electric, individual furnaces for each unit. Owner-owned laundry with two washers and two dryers in each building, 29 garage spaces, 6 surface parking spaces, and slab foundations with no basements to maintain. Ownership has invested approximately $175,000 in recent capital improvements, including two new roofs, furnaces and hot water tank replacements, and extensive interior renovations. Current NOI is $161,453 with additional upside through lease-up, continued rent growth, and implementation of a utility reimbursement program projected to increase returns to an 11%+ pro forma cap rate. Located adjacent to the North and South Quarry green space and minutes from Cleveland Clinic, University Hospitals, shopping, dining, and Metroparks, this is an outstanding opportunity to acquire a well-maintained multifamily investment with strong in-place income and long-term appreciation potential. Seller is also selling 885 S green which can be sold together. Buyers interested in the entire portfolio could qualify for up to 15% Seller financing.
#5239246

South Euclid

818 S Green Road

None Beds

None Baths

22,080 Sq.Ft.

$2,150,000

MLS#: 5239246

 - property

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