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$ 1,290,000
Est. payment /mo
Active Under Contract
17901 Lake Shore BLVD Cleveland, OH 44119
0.34 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision East Shore Park
MLS Listing ID 5143268
HOA Y/N No
Year Built 1977
Annual Tax Amount $22,682
Tax Year 2024
Contingent Appraisal,Inspections
Lot Size 0.337 Acres
Acres 0.3374
Property Sub-Type Apartment
Property Description
Prime investment opportunity! This well-maintained 18-unit apartment building (9 one-bedroom, 9 two-bedroom) offers strong in-place cash flow with immediate upside potential. Currently 100% occupied with below-market rents (1BD $840 vs. $869 market; 2BD $933 vs. $1,037 market), this property presents an easy path to increase NOI. Recent upgrades include new roofs (2017), updated boiler system, modern electrical panels, parking lot, units update, and landscaped grounds – all with minimal deferred maintenance.
Ideally located in Cleveland's desirable Lakeshore neighborhood, just minutes from Lake Erie parks, shopping centers, and downtown employment hubs. With an 8.5% cap rate and excellent tenant retention, this is a turnkey asset for investors seeking stable cash flow with built-in appreciation potential.
Financials available to qualified buyers. Perfect for 1031 exchange or portfolio expansion. Schedule your private showing today!"*
Key Features Included:
? 8.5% Cap Rate
? $28,728 Annual Rent Upside
? 100% Occupancy
? Major Upgrades
? Prime Lakeshore Location
Ideally located in Cleveland's desirable Lakeshore neighborhood, just minutes from Lake Erie parks, shopping centers, and downtown employment hubs. With an 8.5% cap rate and excellent tenant retention, this is a turnkey asset for investors seeking stable cash flow with built-in appreciation potential.
Financials available to qualified buyers. Perfect for 1031 exchange or portfolio expansion. Schedule your private showing today!"*
Key Features Included:
? 8.5% Cap Rate
? $28,728 Annual Rent Upside
? 100% Occupancy
? Major Upgrades
? Prime Lakeshore Location
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 114-02-022
Special Listing Condition Standard
Listed by Lei Jiang • OwnerLand Realty, Inc. • [email protected], 216-280-0218