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14520 Milverton Rd
Cleveland, OH 44120
18 Unit Apt Near Shaker Square · Multifamily Property For Sale
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18 Units
INVESTMENT HIGHLIGHTS
- 90% occupied & numerous recent updates
- Proforma Cap Rate - 11%+
- Current Cap Rate - 8%+
- On-site parking for residents
EXECUTIVE SUMMARY
Incredible opportunity to acquire this 18-unit multifamily property boasting over 90% occupancy and numerous recent updates! Priced at an attractive cap rate of over 8% based on current financials, this asset offers immediate strong returns with the potential to exceed an 11% cap rate through a simple value-add strategy—just bump rents upon lease renewals. The building features 12 spacious one-bedroom units and six two-bedroom units, all with open floor plans and plenty of on-site parking for residents! Tenants cover their own electric via baseboard heating, while ownership is only responsible for water, sewer, and common area electric. This is a low-maintenance, easy-to-stabilize investment with solid cash-on-cash returns and a great price per door—perfect for investors seeking upside with minimal effort.
PROPERTY FACTS Under Contract
| Price Per Unit | $71,952 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| No. Units | 18 | Building Size | 13,272 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1958 |
| Zoning | 1F - One Family | ||
| Price Per Unit | $71,952 CAD |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 13,272 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1958 |
| Zoning | 1F - One Family |
AMENITIES
UNIT AMENITIES
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 6 | - | - |
PROPERTY TAXES
| Parcel Number | 130-18-052 | Improvements Assessment | $629,790 CAD |
| Land Assessment | $44,082 CAD | Total Assessment | $673,872 CAD |
PROPERTY TAXES
Parcel Number
130-18-052
Land Assessment
$44,082 CAD
Improvements Assessment
$629,790 CAD
Total Assessment
$673,872 CAD
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