Edgewater Premium Apartments
Multifamily | 64 Units | $76,563/unit
Marketing description
The Edgewater Premium Apartments, a distinguished portfolio featuring 4 properties, containing 60 residential units and 4 commercial suites. These properties are nestled in the revitalized, quickly evolving Edgewater neighborhood, on the border of Lakewood and Cleveland, Ohio.
Edgewater Premium Apartments are strategically located between the West Side’s main thoroughfares, Madison and Detroit Avenue. The property is just 1.5 miles from Edgewater Beach and a 10-minute drive to Downtown Cleveland. Residents benefit from a 10-minute walk to the RTA West Boulevard stop, a 5-minute drive to I-90, and a 4-minute drive to OH-2, providing convenient access to Cleveland’s main attractions and employment centers.
Ownership has started a light interior renovation strategy, yielding increased returns. A new investor has the opportunity to conduct a full value-add program and greatly increase the performance of the asset. Additionally, the 4 commercial suites offer investors the chance to diversify revenue streams and increase returns.
Detroit Manor: 11100 Detroit Avenue. 25 residential units and 2 commercial suites.
Deli Building: 11115 Detroit Avenue. 13 residential units and 2 commercial suites.
West Edge: 111103 Detroit Avenue. 12 residential units
Minta & Flora: 11029-11031 Detroit Ave, 10 residential units.
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