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$3,500,000
Est. payment /mo
1.67 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Blisswood Village Condo
MLS Listing ID 5147897
HOA Y/N No
Year Built 1951
Annual Tax Amount $49,106
Tax Year 2024
Lot Size 1.670 Acres
Acres 1.67
Property Sub-Type Apartment
Property Description
Rare opportunity to acquire a stabilized, 65-unit condo portfolio within a 268-unit community in the high-demand submarket of Euclid, Ohio offering both immediate yield and long-term upside. Comprising entirely of two-bedroom, one-bath townhome style units, this portfolio sits at 98% occupancy and is operating at a strong 9+% cap rate on actuals based on an asking price of $3.5M, with a clear trajectory to exceed double-digit returns through strategic rent increases on renewals.
Currently grossing nearly $60,000 per month, the portfolio has a proforma monthly rent of over $66,000 once minor rent bumps are put into place. The majority of units were renovated between 2023 and 2025, minimizing near-term capital needs and enhancing tenant appeal. As the majority owner in the community, the new owner will gain substantial influence over community decisions, positioning them to drive value through strategic enhancements and governance.
This is a rare chance for sophisticated investors to secure scale, control, and performance in a tight rental market. Serious inquiries only.
Currently grossing nearly $60,000 per month, the portfolio has a proforma monthly rent of over $66,000 once minor rent bumps are put into place. The majority of units were renovated between 2023 and 2025, minimizing near-term capital needs and enhancing tenant appeal. As the majority owner in the community, the new owner will gain substantial influence over community decisions, positioning them to drive value through strategic enhancements and governance.
This is a rare chance for sophisticated investors to secure scale, control, and performance in a tight rental market. Serious inquiries only.
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Fireplace No
Exterior
Water Access Desc Public
Present Use Residential,Single Family
Building
Sewer Public Sewer
Water Public
Schools
School District Euclid Csd - 1813
Others
Tax ID 643-02-446
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com, 216-870-8687