Investment Property
Under Contract
20580 Lorain Road
20580 Lorain Road, Cleveland, OH 44126 United States
Lot Size
1.41 Acres
Construction Status
Existing
Built
1955
Lot Size
1.41 Acres
Construction Status
Existing
Built
1955
OVERVIEW
Royal Oaks is a meticulously maintained property consistently achieving occupancy levels of 95% or above. A select number of units have undergone tasteful remodeling featuring LVT flooring, and each unit is equipped with an in-suite washer and dryer for added convenience. Recent improvements include new roofs installed in November 2023 and several window replacements, ensuring modern functionality and aesthetics. With a projected Net Operating Income (NOI) of $270,000 in 2025, a five-mile population exceeding 233,000, and an average household income above $100,000, Royal Oaks offers strong growth potential. Priced at $3,550,000, the property comprises two buildings originally built in 1955 (renovated in 2024), each spanning three floors and totaling 30 three-bedroom, one-bath units. Situated on 1.41 acres, Royal Oaks provides ample parking with 45 surface spaces.
CONTACT
Details
- Sale Price:
- $3,400,000 USD
- Lot Size:
- 1.41 Acres
- Construction Status:
- Existing
- Year Built:
- 1955
CONTACT
LOCATION
RELATED PROPERTIES
