880-884 Parkwood Rd
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880-884 Parkwood Rd
13 Unit Block of Flats £281,604 (£21,662/Unit) Cleveland, OH 44108
Investment Highlights
- The building is an all-brick 1910 build, featuring three 2-story buildings with separate metered apartments.
- The site assembly includes four V/L parcels for onsite parking or future development.
Executive Summary
Attention all Contractors, Investors, amazing opportunity to renovate Multi-Family 13 Unit Apartment Building, being sold as part of a site-assembly total of 5 parcels. All-brick, 1910 build, three 2-story buildings that connect from the exterior facade. Proposed plans consist of 3 styles of One Bedroom; Two Bedroom & Three Bedroom apartments all separately metered. Featuring high ceilings; four season rooms; abundance of natural light and charming decorative fireplaces with desirable layouts for future renters. Surrounded by new build construction in an ever vast growing Glenville neighborhood of Cleveland! Nearby all major hospitals; easy highway accessibility; situated within a school zone. Majority of the demo has already been completed, offering the next owner a chance to finish existing plans in place or option to make their own personal customizations. Common basement with storage lockers; laundry room and possibility to create an additional garden style apartment. The L-shape site assembly includes four V/L parcels zoned MF & Residential that could be used for onsite parking or future development. Site plan; architectural drawings & environmental have been completed~valuesavings for future buyers! Conveniently located within a 1 mile radius from UH Rainbow Babies & Children Hospital, Veteran Hospital; Rockefeller Park, Cleveland Museum of Art & Natural History Museum and Cleveland Botanical Gardens. This is a fantastic opportunity to purchase a Value Add play in a Class C Neighborhood with a huge upside for a bargain price!
Data Room Click Here to Access
- Operating and Financials
Property Facts
Price | £281,604 | Building Class | C |
Price Per Unit | £21,662 | Lot Size | 0.27 AC |
Sale Type | Investment | Building Size | 16,824 SF |
No. Units | 13 | Number of Floors | 2 |
Property Type | Residential | Year Built | 1910 |
Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
Apartment Style | Low Rise | Opportunity Zone |
Yes
|
Price | £281,604 |
Price Per Unit | £21,662 |
Sale Type | Investment |
No. Units | 13 |
Property Type | Residential |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.27 AC |
Building Size | 16,824 SF |
Number of Floors | 2 |
Year Built | 1910 |
Parking Ratio | 0.89/1,000 SF |
Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Wi-Fi
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
Unit Mix Information
Description | No. Units | Avg. Rent.Mo | SF |
---|---|---|---|
Studios | 13 | - | - |
PROPERTY TAXES
Parcel Number | 108-27-023 | Improvements Assessment | £12,245 |
Land Assessment | £3,591 | Total Assessment | £15,837 |
PROPERTY TAXES
Parcel Number
108-27-023
Land Assessment
£3,591
Improvements Assessment
£12,245
Total Assessment
£15,837
zoning
Zoning Code | MF-1 |
MF-1 |
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880-884 Parkwood Rd
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