Cleveland Multifamily for Sale - CBD
Green Bridge Real Estate is proud to present The trophy class, Milton Townhomes located in one of the nations hottest rental markets in Downtown Cleveland. The Milton, a 16 unit townhome community consisting of 16, 1,200 Sq.Ft. Two Bedroom, Two and a half Bath Townhomes with attached one car garage. Currently 81% Occupied (13 of 16) with avg. monthly rent of $2,320 per suite ($1.93 per Sq.Ft.). Excellent Value Add Opportunity. Two Townhome Suites are fully furnished and can be used as an AirBnB type of rental. Currently in year 8 of a 15 year Real Estate Tax Abatement period (ends 2031). The Property is situated in Downtown Cleveland. Residents are within walking distance of the Central Business District, Cleveland State University, Playhouse Square, First Energy Stadium, and Progressive Field. Also, a short proximity (5-10 minute drive) to the Cleveland Clinic, University Hospital and the museums of University Circle. The Property offers convenient access to Highways I-90, I-480, I-77, and I-71, which connect Downtown to the rest of the city. This Class A asset was built in 2017 and has plenty of upside with rents that can be increased and little to no deferred maintenance.
