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19458968
19458797

7049 Superior Ave, Cleveland, OH 44103 For Sale

JC
OH 201702330
Russell Commercial Advisory
Listed by Russell Commercial Advisory
$885,000
722 days on market
Updated 1 day ago

Abel Manor Apartments

Details
APN 105-23-024
Property Type Multifamily
Sub Type Apartment Building, Multifamily (+1)
Square Footage 46,810
Units 39
Pro-Forma Cap Rate 31.07%
Pro-Forma NOI $275,000
Price per SqFt $19
Broker Co-Op Yes
Class C
Year Built 1908
Year Renovated 2020
Buildings 1
Stories 4
Lot Size (SqFt) 13,795
Zoning MF
Investment Type Value Add
Ownership Bank
Sale Condition Bank owned foreclosure

Multifamily | 39 Units | $22k Per Unit | Opportunity Zone

Marketing description

One of Cleveland’s Top Multifamily Value Add Investment Opportunities in 2024

Featuring 39 Units | 30 Two Beds | 6 Three Beds | 3 One Beds

Welcome to St. Clair Superior! We are a beautiful patchwork of people, businesses, cultures, and micro-neighborhoods along the coast of Lake Erie on Cleveland’s east side. Together, we form one of the most diverse lakefront communities in the country. Whoever you are, and whether you’re here for an afternoon or a lifetime, we look forward to welcoming you to the vibrant fabric of our neighborhood.

A culturally diverse historic neighborhood on Cleveland’s east side located on the near east side of Cleveland, is a historic neighborhood where the past and present coexist harmoniously. Originally an industrial hub, this area was home to numerous iron foundries and manufacturing plants. The neighborhood's history is deeply rooted in its diverse immigrant population, particularly Slovenians. Today, St. Clair-Superior is a testament to resilience and cultural preservation. It offers a unique mix of historical charm through its well-preserved centennial bungalows and Slovenian festivals, as well as modern conveniences like repurposed warehouse lofts. Flower displays showcase different nationalities at Cleveland Cultural Gardens—the neighborhood is home to several green spaces, including Rockefeller Park, which features the Cleveland Cultural Gardens that celebrate more than a dozen nationalities, including African American, Albanian, Chinese, French, Greek, and Mexican, through designed gardens. Additionally, the Cleveland Lakefront Reservation offers residents opportunities for fishing, picnicking, and enjoying the sandy shores of Lake Erie.

Listing Contacts

JC
OH 201702330
Russell Commercial Advisory
Listed by Russell Commercial Advisory

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Additional Information

Name
Justin Campbell
License
201702330
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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