Windward Place Apartments
21-Unit Value-Add Multifamily | 7.54% Cap Rate | Below-Market Rents | One Block from Lake Erie
Marketing description
Windward Place Apartments consists of 21 one-bedroom, one-bathroom units located one block from Lake Erie on Cleveland's Lakeshore Boulevard. This well-maintained, low-rise/garden-style multifamily property offers investors an opportunity to own in a convenient and popular submarket. With average rents currently more than 10% below markets, approximately $735 per month, a new owner can immediately generate cash flow, with strong upside potential by aligning rents with the market.
To download additional information: https://properties.adamslynch.com/1584509-sale
Investment highlights
21 one-bedroom units with individual furnaces and A/C units (tenant-paid gas/electric for HVAC)
Current rents 10% below market offering immediate value-add opportunity
20-year lead-free certification
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