Grasmere Apartments 15000 Euclid Ave., East Cleveland — Sale in East Cleveland, OH

  • Price: $3M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: East Cleveland, OH 44112
  • Size: 37,100 SF
  • Year built: 1915

Investment Figures

Price per square foot
$80
Price per unit
$71,951 across 41 units

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

41 UNIT GRASMERE APARTMENTS, EAST CLEVELAND. The next owner will benefit from several recent improvements that are significant to the long term performance of this multi-unit apartment building. Major electrical, plumbing and almost all of the units have been refreshed. Low maintenance masonry construction with seperately metered electric. Owner is in the process of leasing the building back up so it is a perfect opportunity for new management to take it over and benefit. Operationally, this building has the ability to provide impressive returns utilizing a past history of market rents and affordable housing programs. A few shell units remain in the lower level providing the opportunity to increase the number of total units or enhance with common areas. On site laundry facility, electronic keyed entry, security cameras and recently improved fire alarm system offers convenience for the residents. The market has responded well to both Section 8 and Eden vouchers. Grasmere Apartments offer affordable 1 & 2 bedroom units located in the 44112 area of Cleveland, minutes away from public transportation, parks, shopping, recreation and the popular University Circle. The units offer newer appliances, walk-in closets, upgraded kitchen and bathroom. Building SF: 37100 | Land Size: 0.37 Ac | Year Built: 1915 | Listing Type: FOR SALE

Market Context

This multifamily in East Cleveland, OH is listed for sale at $2,950,000 across 37,100 SF. The building dates to 1915. It has been on the market for 70 days. Compare it against other multifamily listings for sale in East Cleveland, OH — view the full market.

Contact

  • Douglas J. Ryan — KW Commercial | Classic Properties of Columbus LLC- Upper Arlington OH 43221 - Upper Arlington OH 43221 - Upper Arlington OH 43221 · doug.ryan@kw.com
  • Douglas J. Ryan · doug.ryan@kw.com

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