24250 Lake Shore BlvdEuclid, OH 44123

Property Details for 24250 Lake Shore Blvd

Year built

1972

Property size (Sq ft)

10,530 SF

Property type

Apartment buildings

Description

This exceptional 8-unit apartment building presents a compelling value-add investment opportunity in Euclid, Ohio. Located at 24250 Lakeshore Blvd, this 10,530 square foot property boasts six two-bedroom and two one-bedroom units, each offering ample living space. Built in 1972, the building features a well-maintained brick exterior, a newer concrete parking lot with over 16 designated spaces, and several recent upgrades including some newer windows. The property also includes a full walk-out basement equipped with individual storage lockers for each unit. The asking price is $575,000, translating to $71,875 per unit and $54.61 per square foot. Situated in a suburban location approximately 10 minutes from downtown, this property offers convenient access to public transportation, major hospitals, and significant employers. The current rent roll presents an estimated 20% upside potential, making this a highly attractive investment prospect. The sale is subject to a 1031 exchange. The property's APN is 644-20-056. This is a must-see opportunity for discerning investors seeking strong returns in a desirable location.

Location Insight

City

Euclid

County

Cuyahoga

State

Ohio

Latitude

41.616

Longitude

-81.5138

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