MLS Listings

Office/Contract Info

For Sale

Yes

Exchange

No

Remarks & Misc

Property Description

AFFORDABLE HOUSING ; 41 UNITS GRASMERE APARTMENTS, EAST CLEVELAND. Approximately 90% ++ occupancy and growing. Perfect opportunity for new management to take it over and benefit from all the hard work. The property provides for both 1 and 2 bedroom units depending on how space is utilized by the tenant. The building has had 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 separately metered electric. 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 possibility 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.

Income/Expenses

Gross Income

0

Net Operating Income

0

Total Expenses

0

Addl Acceptance Cond

None Known

Yes

Construction

Brick

Yes

Water Source

Public

Yes

Sewer

Public Sewer

Yes

Services Available

Electricity Available

Yes

Sewer Available

Yes

Storm Sewer

Yes

Water Available

Yes

Tenant Pays

Electricity

Yes

Heating

Radiant

Yes

Air Conditioning

Window Unit(s)

Yes

MLS Primary PhotoSrc

Realtor Provided

Yes

Property Features