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18911 Bella Dr
Cleveland, OH 44119
Multifamily Property For Sale
·
12 Units
Investment Highlights
- Resilient residential community located on Bella Drive in Cleveland
- Generous unit layouts provide comfortable living environments
- Landscaped grounds enhance curb appeal and resident satisfaction
- Traditional architectural appeal with well-maintained exterior presentation
- Recent interior refresh includes quality fixtures and finishes
- Secure entry systems promote resident peace of mind Ongoing maintenance keeps major building systems current
Executive Summary
18911 Bella Drive presents a mostly renovated 12-unit multifamily asset with significant capital improvements already completed. Ownership has renovated 8 of 12 units over the past two years, achieving strong rent growth while maintaining stable occupancy. The property has undergone full lead abatement and holds a 20-year lead-free certification, significantly reducing regulatory risk. Additional recent capital improvements include a new roof, updated entry doors, renovated laundry rooms, and upgraded mechanical systems. This offering represents a rare opportunity to acquire a largely de-risked, near-stabilized asset with in-place income and remaining upside by increasing rents to market, maximizing an 8% CAP
Property Facts
| Price Per Unit | $118,752 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 7.36% | Building Size | 12,000 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1962 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price Per Unit | $118,752 CAD |
| Sale Type | Investment |
| Cap Rate | 7.36% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Property Taxes
| Parcel Number | 114-23-033 | Improvements Assessment | $184,517 CAD |
| Land Assessment | $30,363 CAD | Total Assessment | $214,880 CAD |
Property Taxes
Parcel Number
114-23-033
Land Assessment
$30,363 CAD
Improvements Assessment
$184,517 CAD
Total Assessment
$214,880 CAD
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