REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,950,000
Est. payment | /mo
0.37 Acres Lot
$ 2,950,000
Est. payment | /mo
0.37 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Midrise
Listing Status Active
Purchase Type For Sale
MLS Listing ID 226031753
Year Built 1915
Annual Tax Amount $41,524
Lot Size 0.370 Acres
Lot Dimensions 0.37
Property Sub-Type Midrise
Source Columbus and Central Ohio Regional MLS
Property Description
AFFORDABLE HOUSING ; 41 UNITS GRASMERE APARTMENTS, EAST CLEVELAND. Approximately 90% ++ occupancy and growing. Perfect opportunity for new management to take it over and benefit from all the hard work. The property provides for both 1 and 2 bedroom units depending on how space is utilized by the tenant. The building has had 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 separately metered electric. 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 possibility 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.
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.
Location
State OH
County Cuyahoga
Area 0.37
Rooms
Other Rooms None
Dining Room No
Interior
Equipment No
Laundry No Laundry Rooms
Schools
High Schools East Cleveland Csd 1812 Cuy Co.
School District East Cleveland Csd 1812 Cuy Co.
Others
Tax ID 673-09-106
Listed by Douglas J Ryan KW Classic Properties Realty
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "