$5,250,000

12511 Clifton Boulevard , Lakewood, OH 44107

 
Bedrooms:0 beds
Bathrooms:0 baths
Commercial Sale:0 sqft
Lot:1.77
Year Built:1943
Listing Status:Active

Listing Agent

Tal Tamir
https://www.russellrealty.com
Loan Amount:
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Annual Tax:
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Monthly tax: $
Total Payment:$

These amounts are estimates and do not take into consideration other expenses such as PMI, etc.. This is only an estimate.

Description

Rare Investment Opportunity in Lakewood’s Prestigious Gold Coast Submarket! Seize the chance to acquire a 75-unit portfolio in Cleveland’s highly coveted Lakewood Gold Coast. This portfolio features two well-maintained properties on Clifton Blvd: The Traymore, offering 29 spacious two-bedroom units, and Clifton Cove, with 46 one-bedroom units. With 75-80% of units already renovated and $1.2M in recent capital improvements since 2022, the properties boast stability and minimal immediate work required. Based on the current rent roll and normalized expenses, the portfolio delivers an impressive 8.3% cap rate with a clear roadmap to achieve double-digit returns. Currently at 92% occupancy, investors can enjoy strong cash flow from day one, with additional value-add potential through cosmetic updates and rent optimization. Situated in one of Cleveland’s top-performing rental markets, this portfolio is a prime opportunity to secure high returns in a desirable, high-demand location.

Detailed Items

Other Information

12511 Clifton Boulevard, Lakewood, OH, 44107 is a commercial sale listing of 0 sqft on a lot of 1.77. This commercial sale listing has 0 bedrooms, and 0 baths. The map for this location can be viewed on Google maps at Google maps to property12511 Clifton Boulevard, Lakewood, OH
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