Maple Lee Apartments | 5151 Lee Rd
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Maple Lee Apartments 5151 Lee Rd
34 Unit Block of Flats £1,775,250 (£52,213/Unit) 6.31% Net Initial Yield Maple Heights, OH 44137
Investment Highlights
- More Than $800,000 of Capital Improvements Since 2021
- Upside Through Management Efficiencies (Out-of-Town Ownership)
- Less Than 20 Minutes to Downtown Cleveland
- Ability to Implement Utility Reimbursement ($15,000+ to NOI)
- Minutes From Significant Employment (Amazon Fulfillment, JACK Racino, Cleveland Clinic Marymount)
Executive Summary
Please visit www.chmultifamily.com/listings-overview/maplelee for the offering materials or contact Cam Seecamp at 614-271-8922
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,775,250 | Building Class | C |
| Price Per Unit | £52,213 | Lot Size | 0.88 AC |
| Sale Type | Investment | Building Size | 31,050 SF |
| Net Initial Yield | 6.31% | Average Occupancy | 97% |
| No. Units | 34 | Number of Floors | 3 |
| Property Type | Residential | Year Built/Renovated | 1958/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Apartment Style | Garden |
| Price | £1,775,250 |
| Price Per Unit | £52,213 |
| Sale Type | Investment |
| Net Initial Yield | 6.31% |
| No. Units | 34 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 31,050 SF |
| Average Occupancy | 97% |
| Number of Floors | 3 |
| Year Built/Renovated | 1958/2022 |
| Parking Ratio | 1.06/1,000 SF |
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 22 | £670.65 | 600 |
| 2+1 | 12 | £749.55 | 800 |
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PROPERTY TAXES
| Parcel Number | 781-21-056 | Total Assessment | £343,669 (2022) |
| Land Assessment | £47,249 (2022) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £296,419 (2022) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
781-21-056
Land Assessment
£47,249 (2022)
Improvements Assessment
£296,419 (2022)
Total Assessment
£343,669 (2022)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | NC (Multi-Family) |
| NC (Multi-Family) |
-
Richard Lattro -
Cam Seecamp -
Charles Hart Real Estate
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Maple Lee Apartments | 5151 Lee Rd
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