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$ 1,800,000
Est. payment /mo
New
12955 Larchmere BLVD Shaker Heights, OH 44120
0.42 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Vandeboe Hager Cos Northwoo
MLS Listing ID 5149711
HOA Y/N No
Year Built 1965
Annual Tax Amount $51,480
Tax Year 2024
Lot Size 0.418 Acres
Acres 0.418
Property Sub-Type Apartment
Property Description
This offering presents investors with an extremely rare chance to acquire a 30-unit multifamily asset in Cleveland's sought-after Larchmere District, a submarket experiencing significant growth and revitalization. The property is comprised of 30 one-bedroom units, 20 of which have undergone recent renovations including modern kitchens, updated bathrooms, vinyl flooring, and new fixtures, complemented by refreshed common areas with new paint, lighting, and flooring. Additionally, a large single-family home situated on a separate lot provides a compelling value-add opportunity—either as a high-premium rental unit or a resale project yielding substantial equity upside. The asset is well-positioned for increased cash flow and double-digit returns through modest rent growth on renewals. With boiler heat, chiller cooling, and strong tenant demand in this thriving district, the property offers investors a stabilized, income-producing building with exceptional long-term upside.
Location
State OH
County Cuyahoga
Interior
Heating Hot Water, Steam
Cooling Central Air
Fireplace No
Exterior
Parking Features On Site, Paved
Water Access Desc Public
Roof Type Composition,Flat
Building
Sewer Public Sewer
Water Public
Schools
School District Shaker Heights Csd - 1827
Others
Tax ID 736-31-048
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • [email protected], 216-870-8687