42-Unit Apartment Building for Sale in Cleveland, OH
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Financial Details
- Asking Price:
- $2,200,000
- Cash Flow / SDE:
- $126,974
- Profit Metric:
- Projected Net Annual Operating Income
- Valuation Multiple:
- 17.3x
- Location:
- Cleveland, OH, US
- Source:
- Date:
- September 15, 2025
Key Highlights
42-unit apartment building in Cleveland's Edgewater neighborhood.
Significant value-add opportunity with 55% vacancy and projected NOI of $126,974 at full occupancy.
Well-located property with 31,384 sq.ft. of space, built in 1920, featuring elevator service.
Description
This listing presents a 42-unit apartment property located in Cleveland, Ohio. The building, constructed in 1920, features 31,384 Sq.Ft. across four stories and includes an elevator. It comprises 28 one-bedroom units, 4 two-bedroom units, and 10 studio suites. Situated in the Edgewater neighborhood, the property benefits from its proximity to downtown Cleveland. Currently, the building has a 55% vacancy rate, presenting a significant opportunity for value enhancement. The projected Net Annual Operating Income at 100% occupancy and market rents is $126,974. The property is listed for sale at $2,200,000.
Industry Information
- Industry Description:
- Real Estate
- Classification:
- Building & Construction
Operational Snapshot
- Year Established:
- 1920
Real Estate & Lease
- Status:
- For_sale
- Real Estate Price:
- $2,200,000 USD
Listing Details
- Listing ID:
- 0fddbd84-859f-4bef-8ebb-2a3ebec4cc68
- Deal Status:
- For Sale
- Date Posted:
- May 25, 2023
- Last Updated:
- September 15, 2025
- Currency:
- USD
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