Superior Apartment Collection
Multifamily | 8.83% CAP | 35 Units
Marketing description
The Superior Apartment Collection combines two complementary multifamily assets into a single 35-unit acquisition within the 44118 ZIP code, immediately adjacent to Cleveland Heights. The portfolio provides investors with immediate scale, a balanced unit mix, strong current income, and a physical asset profile materially different from typical vintage apartment acquisitions.
13970 Superior Road is the stabilized income asset: 18 physically occupied apartments, 17 government-assisted units, one market unit, new PEX domestic water distribution, updated electrical service components, roof coating, renovated interiors, and tenant-paid electric heat. Unit 105 is separately disclosed due to active eviction proceedings and HAP suspension.
14110 Superior Road is the replacement-quality asset: a 17-unit near-new apartment community created through comprehensive redevelopment of the existing brick structure. As of June 30, 2026, 16 of 17 units are occupied, all occupied units are HAP-supported, and Unit 2 is vacant in active lease-up.
The combined acquisition is not simply a 35-unit portfolio. It is a balanced apartment collection with 12 one-bedroom, 13 two-bedroom, and 10 three-bedroom units, creating diversified exposure across renter profiles and household sizes.
Investment highlights
- Immediate scale: 35 units across two nearby assets
- Balanced unit mix: 12 x 1BR / 13 x 2BR / 10 x 3BR
- Income durability: 33 HAP-supported units, one market unit, one active vacancy, and one HAP suspension
- Physical asset quality: 13970 infrastructure modernization plus 14110 comprehensive redevelopment
- Utility structure: Tenant-paid electric and electric heat
- Measurable upside: Market Rent Projection based on rents already achieved inside the assets
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