Tremont Trails Luxury Apartments 2387 W 5th St 7 Unité Immeuble d’appartements 2 561 325 $ CAD (365 904 $ CAD/Unité) Cleveland, OH 44113

Tremont Trails Luxury Apartments offers a prime investment opportunity in Cleveland's thriving multifamily market. The property was built in 2021 and is zoned for 7 units, ideally positioned for an investor seeking a trophy property in a premier location. Benefitting from a 15 year tax abatement, this low-rise gem is located in the coveted Tremont neighborhood, offering close proximity to downtown Cleveland. Zoned as Apartments 7-19 Walkup, the property presents a compelling opportunity for investors looking to capitalize on the demand for modern, multifamily residences in a thriving location. Six units are built out and occupied. The seventh unit is a blank slate that has the potential to become a large three bedroom, two bathroom apartment. A designed floorplan is included in the Offering Memorandum. Estimated rent for the three bedroom is $2,850. Tremont Trails is Green Communities and Energy Star certified.
The residential tax abatement began January, 2021, and runs for 15 years, expiring on December 31, 2035. The tax abatement is approved for 100% of the assessed taxes for the rehabilitation costs for a term of 15 years following the effective date.