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
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