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Grasmere Apartments 15000 Euclid Ave 41 Unit Apartment Building $4,113,775 CAD ($100,336 CAD/Unit) East Cleveland, OH 44112
Investment Highlights
- 41 - 1 and 2 Bedroom Apartments
- Majority of Units Refreshed
- Major Electrical Improvements
- Low Maintenance Masonry Construction
- Potential For Resident Manager
Executive Summary
41 UNIT GRASMERE APARTMENTS, EAST CLEVELAND. The next owner will benefit from several recent improvements that are significant to the long term performance of this multi-unit apartment building. Major electrical, plumbing and almost all of the units have been refreshed. Low maintenance masonry construction with seperately metered electric. Owner is in the process of leasing the building back up so it is a perfect opportunity for new management to take it over and benefit. Operationally, this building has the ability to provide impressive returns utilizing a past history of market rents and affordable housing programs. A few shell units remain in the lower level providing the opportunity to increase the number of total units or enhance with common areas. On site laundry facility, electronic keyed entry, security cameras and recently improved fire alarm system offers convenience for the residents.
The market has responded well to both Section 8 and Eden vouchers. Grasmere Apartments offer affordable 1 & 2 bedroom units located in the 44112 area of Cleveland, minutes away from public transportation, parks, shopping, recreation and the popular University Circle. The units offer newer appliances, walk-in closets, upgraded kitchen and bathroom.
The market has responded well to both Section 8 and Eden vouchers. Grasmere Apartments offer affordable 1 & 2 bedroom units located in the 44112 area of Cleveland, minutes away from public transportation, parks, shopping, recreation and the popular University Circle. The units offer newer appliances, walk-in closets, upgraded kitchen and bathroom.
Property Facts
| Price | $4,113,775 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $100,336 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| No. Units | 41 | Building Size | 43,648 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1915/2023 |
| Zoning | 4030 - WALK-UP APTS 40+ U - 4030 - WALK-UP APTS 40+ U - Residential Multifamily, 40+ units | ||
| Price | $4,113,775 CAD |
| Price Per Unit | $100,336 CAD |
| Sale Type | Investment |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 43,648 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1915/2023 |
| Zoning | 4030 - WALK-UP APTS 40+ U - 4030 - WALK-UP APTS 40+ U - Residential Multifamily, 40+ units |
Amenities
Unit Amenities
- Kitchen
- Tub/Shower
- Walk-In Closets
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Security System
- Public Transportation
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 21 | - | 650 |
| 2+1 | 20 | - | 650 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 673-09-106 | Improvements Assessment | $539,177 CAD |
| Land Assessment | $15,554 CAD | Total Assessment | $554,731 CAD |
Property Taxes
Parcel Number
673-09-106
Land Assessment
$15,554 CAD
Improvements Assessment
$539,177 CAD
Total Assessment
$554,731 CAD
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Grasmere Apartments | 15000 Euclid Ave
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