Pending

15229 Maple Park Drive

Maple Heights OH, 44137

$2,860,000


$83.55 per sqft

Pending

34,232 sqft

Commercial

Built in 1967

Introducing the Maple 52 investment opportunity--an incredible chance to own a 52-unit apartment portfolio in the thriving suburb of Maple Heights, OH! This portfolio consists of four all-brick buildings on the same street, boasting near full occupancy and huge value-add potential. With cosmetic updates and rent increases, you could significantly boost the already strong returns. Each building has newer gabled roofs and offers an in place cap rate of over 7%, with pro forma potential well into double digits. Many units have seen some updates, but a savvy investor can take this to the next level by adding vinyl flooring, fresh paint, modern fixtures, and minor upgraded kitchens and baths. The portfolio includes three 12-unit buildings and one 16-unit building, all equipped with annually serviced boiler heat and newer hot water tanks. Tenants pay their own electric while owner covers gas and water/sewer. This is a rare "value-add" gem for investors--cash flowing today with massive upside potential through minor cosmetic upgrades. Don't miss your chance to transform this portfolio and unlock serious profits!

5072641

MLS ID

September 25, 2024

Listed

November 22, 2024

Updated

Map

15229 Maple Park Drive
Maple Heights OH, 44137

Interior Features

Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Hot Water, Steam

Exterior/Building Features

Lot Size

2.6 Acres


Sewer

Public Sewer

School Information

School District

Maple Heights CSD - 1818

Other Property Details

Taxes

$78,286


Tax Frequency

Annually


Days on Market

1


Garage

No


View

No


County

Cuyahoga


Municipality

Maple Heights


Water Source

Public


Pool

No

Listing History

Date

Event

Price

9/30/2024

Pending

 

Courtesy of Russell Real Estate Services

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Nicol Ousley shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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