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.