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32918670
32918682

20580 Lorain Road, Fairview Park, OH 44126

MF
OH SAL.2024001884, OH OH2024001884
Cushman & Wakefield CRESCO Real Estate
RP
OH BRK.2016000871
Cushman & Wakefield CRESCO Real Estate
DL
OH SAL.2015004836
Cushman & Wakefield CRESCO Real Estate
Listed by Cushman & Wakefield CRESCO Real Estate
Unpriced
11 days on market
Updated 11 days ago

Royal Oaks

Details
APN 32320002
Property Type Multifamily
Sub Type Apartment Building
Square Footage 31,980
Units 30
Beds 3
NOI $236,877
Tenancy Multi
Class B
Year Built 1955
Year Renovated 2024
Buildings 2
Stories 3
Acreage 1.410
Parking Spaces 45 spaces
Parking Per SqFt 1.41
Investment Type Stabilized

Multifamily | 30 Units

Marketing description

Fairview Park, Ohio, nestled within Cuyahoga County, exudes a charm that resonates with its residents and visitors alike. With tree-lined streets, well-maintained parks, and a strong sense of community, Fairview Park embodies suburban tranquility while being conveniently close to the vibrant city of Cleveland. The town boasts a variety of recreational facilities, including sports fields, playgrounds, and walking trails, catering to both active lifestyles and leisurely strolls. Its thriving local businesses and eateries add to its allure, providing residents with convenient amenities and opportunities for social engagement. With its excellent schools and welcoming atmosphere, Fairview Park stands as a testament to the appeal of small-town living in the heart of the Midwest.

Investment highlights

  • All units feature spacious 3-bedroom, 1 bath layouts
  • A select number of units have undergone tasteful remodeling, featuring LVT flooring
  • Every unit boasts the convenience of an in-suite washer and dryer
  • New roofs on both buildings (2023)
  • Five mile population of over 233,000
  • Five mile average household income of over $100,000
  • Strong historical occupancy demonstrates robust demand for 3-bedroom apartments
  • Includes 1/4 acre parcel for future development or amenity space

Listing Contacts

MF
OH SAL.2024001884, OH OH2024001884
Cushman & Wakefield CRESCO Real Estate
RP
OH BRK.2016000871
Cushman & Wakefield CRESCO Real Estate
DL
OH SAL.2015004836
Cushman & Wakefield CRESCO Real Estate
Listed by Cushman & Wakefield CRESCO Real Estate

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$236,877.00
$19,739.75/mo

Valuation Metrics

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Additional Information

Name
Max Ferguson
License
SAL.2024001884
Brokerage
Cushman & Wakefield | Cresco Real Estate
Brokerage Phone
4402259380
Title
OH
Brokerage Address
6100 Rockside Woods Boulevard North
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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