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Rare opportunity for an investor to purchase in Cleveland Heights Coventry neighborhood. This property is near Case Western Reserve University, Cleveland Clinic, University Hospitals, and University Circle. Property qualifies to be placed on the National Historic Registry and the Cleveland Heights Registry. Property was chosen as the set of 2003 film Against the Ropes , staring Meg Ryan. Properties span nearly an entire city block and offer significant redevelopment opportunities for additional income and value creation. The offering is for two contiguous buildings that offer twenty seven separate, very large 1, 2, and 3 bedroom suites (all over 1,000sf) with incredible closet space; Ten individual office suites with approx. 4,625sf; Thirteen retail spaces with approx. 18,375sf, and other commercial spaces comprising of approx. 25,000sf of lease space. These are incredible buildings with many existing revenue generating aspects as well as a value add opportunities. Numerous and significant renovations over the most recent years provides for buildings that have architectural details of yesteryear as well as updated and modern building systems owners expect today.
The Parkhaven Villa Apartments offer an investor the opportunity to obtain an updated property with strong cash flow. The property consists of 11 one bedroom, one bathroom suites and 15 two bedroom, one bathroom suites with on site garage parking. Originally built for executives at the 93 acre headquarters of General Electric's Lighting Institute that sits a few blocks away, the property is located on a residential street that borders a city park and overlooks a wooded area. Tenants enjoy large suites and are responsible for paying their electric and heating costs.
The Turtle Park Apartments offer an investor the opportunity to own an updated and stable property in a highly desirable market, located two blocks from the Coventry shopping district and walking distance to Case Western Reserve University and the University Hospital. The property, which sits on a wide boulevard and is adjacent to a park, consists of seven 2- bedroom 1-bathroom suites and one 1-bedroom 1-bathroom suite. The 2-bedroom suites are extremely spacious at 1500 square feet. There is on-site surface and garage parking. The property has been updated with newer windows and renovated kitchens with new stainless steel appliances. Each oversized suite has hardwood floors, crown molding, and the character of classic Cleveland Heights apartments. The property is fully occupied and historical occupancy has been near 100%.
The Elmwood Apartments consists of 16 one bedroom and three two bedroom apartments with newer windows and a newer boiler. Current rents are below market and offer an investor the opportunity to improve operations and realize strong cash flow.
The Colonial Apartments consist of five, large, 2 bedroom, 1 bathroom apartments with hardwood floors and decorative fireplaces. The long term owner has stabilized operations over the last three years and installed a new boiler. The property is currently 100% occupied.
Beautiful 3 story Spanish Brick/Stone Tudor located in the trendy Cleveland Heights suburb. Units and Common Areas have been recently updated. Mechanics have been addressed to minimize property owners expenses. Full occupancy.
The Taylor Walker Building consists of 6 apartments and 5 retail storefronts with on site surface and garage parking. Each unit has a separate forced air furnace and the tenants are responsible for their heating costs.
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Colliers International is pleased to present The Manor, an iconic 20 unit apartment property located in Cleveland Heights' Coventry Village. The Manor represents an opportunity to acquire a trophy asset that has been cared for by the same family for over 30 years. The property's Tudor-style architectural design and curb appeal are unmatched even in the distinctive Coventry Village location. Individual suites offer old world charm with arched doorways, hardwood floors and ornate lighting. Windows have been replaced and the rubber bitumen roof is less than 10 years old. Residents pay electric, cooking gas, telephone and cable.