20580 Lorain Road — Sale in Fairview Park, OH

  • Price: $3.4M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Fairview Park, OH 44126
  • Year built: 1955

Description

Royal Oaks is a meticulously maintained property consistently achieving occupancy levels of 95% or above. A select number of units have undergone tasteful remodeling featuring LVT flooring, and each unit is equipped with an in-suite washer and dryer for added convenience. Recent improvements include new roofs installed in November 2023 and several window replacements, ensuring modern functionality and aesthetics. With a projected Net Operating Income (NOI) of $270,000 in 2025, a five-mile population exceeding 233,000, and an average household income above $100,000, Royal Oaks offers strong growth potential. Priced at $3,550,000, the property comprises two buildings originally built in 1955 (renovated in 2024), each spanning three floors and totaling 30 three-bedroom, one-bath units. Situated on 1.41 acres, Royal Oaks provides ample parking with 45 surface spaces.

Market Context

This multifamily in Fairview Park, OH is listed for sale at $3,400,000. The building dates to 1955. It has been on the market for 190 days. Compare it against other multifamily listings for sale in Fairview Park, OH — view the full market.

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