Unit 1- 2 bedrooms, 1 bath Unit 2 - 3 bedrooms, 2 bath
Unit 1 - 2 bedrooms, 1 bath Unit 2, 2 bedrooms, 1 bath Unit 3, large efficiency
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.
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.
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.
Noble Road Estates offers the opportunity to realize strong upside potential through streamlined operations and increased rental rates pushing the incoming cap rate of 7.75% to stabilized 10.40%. Current rents at Noble Road Estates are $50 - $100 below properties in the immediate submarket. Most of the competitive properties are achieving higher rents with tenant paid heat while Noble Road Estates offers free heat. The market study suggests that with modest unit upgrades and light improvements to the curb appeal significantly higher rents are achievable. Noble Road Estates has excellent architectural detail and vinyl replacement windows. The unit mix includes 11 two bedroom units and 9 one bedroom units. The property also offers heated garage parking.
10 units in this incredible apartment building impeccably maintained and updated. Recently renovated suites including kitchens & baths .Secure,private rear parking lot + 12 garages w/ newer doors + openers. Unit mix: 7-2 BR / 2-1BR / 1-3BR See attachments for details. New income from renovations & new leases increased NOI & Cap rate . Long term tenants!
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.
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The Turtle Park Apartments offer an investor the opportunity to own an updated and stable property in a highly desirable market. The property consists of seven 2-bedroom 1-bathroom suites and one 1-bedroom 1-bathroom suite. Updates include newer windows and renovated kitchens with stainless steel appliances. The 2-bedroom suites are extremely spacious at 1500 square feet. Each 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%. Located two blocks from the Coventry shopping district and walking distance to Case Western Reserve University and the University Hospital, the property sits on a wide boulevard and is adjacent to a park. Tenants enjoy easy access to public transportation and are a short car ride from Downtown Cleveland.