818 S Green RD, South Euclid, OH 44121
818 S Green RD, South Euclid, OH 44121
818 S Green RD, South Euclid, OH 44121
818 S Green RD, South Euclid, OH 44121
818 S Green RD, South Euclid, OH 44121
818 S Green RD, South Euclid, OH 44121
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David Margolis

David Margolis

+1(216) 403-8079
$ 2,150,000
Est. payment | /mo

1.31 Acres Lot

Save
$ 2,150,000
Est. payment | /mo
Save

1.31 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision South Euclid Prcl A-2

MLS Listing ID 5239246

HOA Y/N No

Year Built 1962

Annual Tax Amount $51,296

Tax Year 2025

Lot Size 1.305 Acres

Acres 1.3054

Property Sub-Type Apartment

Property Description

24-unit multifamily property consisting of three 8-unit brick apartment buildings offering immediate cash flow with significant upside. Current financials include 4 vacant units currently being renovated and prepared for lease-up or buyers may submit offers based on the property's current condition and complete the remaining work themselves. The portfolio consists entirely of 24 2-bedroom, 1-bath apartments with tenants paying gas and electric, individual furnaces for each unit. Owner-owned laundry with two washers and two dryers in each building, 29 garage spaces, 6 surface parking spaces, and slab foundations with no basements to maintain. Ownership has invested approximately $175,000 in recent capital improvements, including two new roofs, furnaces and hot water tank replacements, and extensive interior renovations. Current NOI is $161,453 with additional upside through lease-up, continued rent growth, and implementation of a utility reimbursement program projected to increase returns to an 11%+ pro forma cap rate. Located adjacent to the North and South Quarry green space and minutes from Cleveland Clinic, University Hospitals, shopping, dining, and Metroparks, this is an outstanding opportunity to acquire a well-maintained multifamily investment with strong in-place income and long-term appreciation potential. Seller is also selling 885 S green which can be sold together. Buyers interested in the entire portfolio could qualify for up to 15% Seller financing.

Location

State OH

County Cuyahoga

Rooms

Basement Apartment, None, Storage Space

Interior

Heating Forced Air

Cooling Window Unit(s)

Fireplace No

Laundry Coin-operated

Exterior

Parking Features Asphalt, Covered, Carport, Detached Carport, Detached, Garage

Water Access Desc Public

Roof Type Flat,Membrane

Total Parking Spaces 34

Building

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Schools

School District South Euclid-Lyndhurst - 1829

Others

Tax ID 701-09-020

Security Features Security System

Special Listing Condition Standard

IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW
Listed by Erin Thomas • Keller Williams Living • Erinthomas@kwcommercial.com, 440-670-2300

Schools and Properties Nearby

David Margolis
David Margolis

Agent License ID: 2011001930

+1(216) 403-8079 | dbmgolis@me.com

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818 S Green RD