20580 Lorain Rd, Fairview Park, OH 44126

30 Unit Apartment Building | $4,200,000 ($140,000/Unit) | 6.67% Cap Rate | Fairview Park, OH 44126

Asking Price $4,200,000

Property Type: Multifamily
Square Feet: 30,000 SF

Listing Contacts

Property Info

Property Overview

Consistently maintaining high occupancy levels of 95% or above. A select number of units have undergone tasteful remodeling, featuring LVT flooring. Every unit boasts the convenience of an in-suite washer and dryer. Recent property enhancements include new roofs installed in November 2023, along with the replacement of several windows, ensuring modern functionality and aesthetics. Projected Net Operating Income (NOI) for 2025 is $280,000. Five mile population of over 233,000. Five mile average household income of over $100,000.

Property Details

Class: C
Year Built/Renovated: 1955/2024
Stories: 3
Lot Size (sq. ft): 61,420 SF
Units: 30

Highlights

Consistently maintaining high occupancy levels of 95% or above.
Recent property enhancements including new roofs installed 11/2023, window replacements, and modern functionality and aesthetics updates.

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Development Site

1 Acre of Commercial Land Offered at $550,000 USD in Fairview Park, OH 44126

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