Low-Rise/Garden Apartment Building For Sale--Investment
Renovated 12-unit property with strong income and upside
Marketing description
18911 Bella Drive presents a mostly renovated 12-unit multifamily asset with significant capital improvements already completed. Ownership has renovated 8 of 12 units over the past two years, achieving strong rent growth while maintaining stable occupancy. The property has undergone full lead abatement and holds a 20-year lead-free certification, significantly reducing regulatory risk. Additional recent capital improvements include a new roof, updated entry doors, renovated laundry rooms, and upgraded mechanical systems. This offering represents a rare opportunity to acquire a largely de-risked, near-stabilized asset with in-place income and remaining upside by increasing rents to market, maximizing an 8% CAP
Location: 90 to 185th street North. East on Bella
Investment highlights
- Resilient residential community located on Bella Drive in Cleveland
- Traditional architectural appeal with well-maintained exterior presentation
- Generous unit layouts provide comfortable living environments
- Recent interior refresh includes quality fixtures and finishes
- Landscaped grounds enhance curb appeal and resident satisfaction
- Dedicated on-site parking supports tenant needs
- Secure entry systems promote resident peace of mind
- Ongoing maintenance keeps major building systems current
- Design encourages stable, long-term occupancy
- Flexible configuration suits various unit mix strategies
- Ideal for investors seeking light value-add opportunities
- Proven performance with potential for amenity upgrades
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