$2,860,000
15229 Maple Park DR Maple Heights, OH 44137
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$2,860,000
Est. payment /mo
2.6 Acres Lot
Pending
15229 Maple Park DR Maple Heights, OH 44137
UPDATED:
09/30/2024 05:03 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Subdivision Bedford
MLS Listing ID 5072641
HOA Y/N No
Year Built 1967
Annual Tax Amount $78,286
Tax Year 2023
Lot Size 2.596 Acres
Acres 2.596
Property Description
Introducing the Maple 52 investment opportunity?an incredible chance to own a 52-unit apartment portfolio in the thriving suburb of Maple Heights, OH! This portfolio consists of four all-brick buildings on the same street, boasting near full occupancy and huge value-add potential. With cosmetic updates and rent increases, you could significantly boost the already strong returns. Each building has newer gabled roofs and offers an in place cap rate of over 7%, with pro forma potential well into double digits. Many units have seen some updates, but a savvy investor can take this to the next level by adding vinyl flooring, fresh paint, modern fixtures, and minor upgraded kitchens and baths. The portfolio includes three 12-unit buildings and one 16-unit building, all equipped with annually serviced boiler heat and newer hot water tanks. Tenants pay their own electric while owner covers gas and water/sewer. This is a rare ?value-add? gem for investors?cash flowing today with massive upside potential through minor cosmetic upgrades. Don?t miss your chance to transform this portfolio and unlock serious profits!
Location
State OH
County Cuyahoga
Interior
Heating Hot Water, Steam
Fireplace No
Exterior
Water Access Desc Public
Present Use Residential
Building
Sewer Public Sewer
Water Public
Schools
School District Maple Heights Csd - 1818
Others
Tax ID 786-03-004
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687
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