15515 Van Aken Boulevard, Shaker Heights, OH 44120 (MLS# 218014368)

15515 Van Aken Boulevard, Shaker Heights, OH 44120

$1,000,000

Property Type: Multi-Family Lot Size (sq. ft.): 28,314 Status: Closed

Current Price: $1,000,000 List Date: 5/02/2018 Last Modified: 1/26/2025

Overview

Description

Large Historic 12 unit apartment building with attached parking garage in Shaker Heights. Very unique layout with multiple 2 story units and penthouse. Four units over 2,000 sq. ft. each! 2 One-bedroom units, One studio, One efficiency, 3 two-bedroom units, one three-bedroom unit and 4 four-bedroom units. Property located on main thoroughfare to for Shaker Heights. Designated by the chamber of commerce as the best apartment building erected in greater Cleveland in 1940. Located directly in front of the Rapid Transit ''Blue Line train station. Professional tenant base.

Listing Details MLS# 218014368

Location Property Info

Original List Price: 1100000
Property Sub Type: Midrise
Street #: 15515
Street Name: Van Aken
Street Suffix: Boulevard
County: Cuyahoga
State: OH
Zip Code: 44120
School District: SHAKER HEIGHTS CSD 1827 CUY CO.
Township: None

OfficeContract Info

MLS Entry Date: 2018-05-02

General Property Info

Number of Units: 12
# of Buildings: Yes
Building Sqft: 21265
Year Built: 1939
Built Prior to 1978: Yes
Occupancy Rate: 100
Lot Size (Side): 171
Acreage: 0.65
Use Code: 401 - APARTMENT:4-19 UNITS

Tax Info

Parcel #: 735-02-005
Tax Abatement: No
Taxes (Yrly): 31529.5
Tax Incentive: No

Status Change Info

Under Contract Date: 2019-02-11
Sold Date: 2019-05-14
Sold Price/SqFt: 47.03

Efficiency

Efficiency # of Units: 2
Efficiency Month Rent Per Unit: 475

More Information

1 Bedroom

1 Bedroom # of Units: 2
1 Bedroom Month Rent Per Unit: 857.5

2 Bedroom

2 Bedroom # of Units: 3
2 Bedroom Month Rent Per Unit: 1054

3 Bedroom

3 Bedroom # of Units: Yes
3 Bedroom Month Rent Per Unit: 1200

Other

Other # of Units: 4
Other Month Rent Per Unit: 1981.25

Financials

Financials ForYearOf: 2017
Gross Rental Income: 179400
Effective Income: 170430
Vac & Cr Loss: 8970

Expenses

R.E. Taxes: 31529.5
Property Insurance: 7733
Repairs&Maintenance: 12620
Misc Expense: 14988.64
Property Management: 8521.5

Auction Info

Auction/Online Bidding Y/N: No

Location & Property Info

List Price/SqFt: 51.73
City (Mailing Addr): Shaker Heights
Corp LimitPerAuditor: Shaker Heights
Dist To Intersxn: 0

Office/Contract Info

For Sale: Yes
Exchange: No

Remarks & Misc

Property Description: Large Historic 12 unit apartment building with attached parking garage in Shaker Heights. Very unique layout with multiple 2 story units and penthouse. Four units over 2,000 sq. ft. each! 2 One-bedroom units, One studio, One efficiency, 3 two-bedroom units, one three-bedroom unit and 4 four-bedroom units. Property located on main thoroughfare to for Shaker Heights. Designated by the chamber of commerce as the best apartment building erected in greater Cleveland in 1940. Located directly in front of the Rapid Transit ''Blue Line train station. Professional tenant base.

Income/Expenses

Gross Income: 179400
Net Operating Income: 81777.64
Total Expenses: 88652.64

Addl Acceptance Cond

None Known: Yes

Construction

Frame: Yes
Brick: Yes

Heat Fuel

Gas: Yes

Parking Features

5 Car Garage +: Yes
Attached Garage: Yes
Heated Garage: Yes
Garage Door Opener: Yes

Services Available

Electricity Available: Yes
Natural Gas Available: Yes
Sewer Available: Yes
Water Available: Yes

Miscellaneous

Basement: Yes
Fireplace: Yes
Garages: Yes
Public Transport: Yes
Security System: Yes
W/D Hookups: Yes

Tenant Pays

Electricity: Yes

Heating

Radiant: Yes

New Financing

Conventional: Yes

Air Conditioning

Window Unit(s): Yes

Owner Pays

Gas: Yes
Sewer: Yes
Trash: Yes
Water: Yes

MLS Primary PhotoSrc

Realtor Provided: Yes

Property Features

Addl Acceptance Cond: None Known Parking Features: 5 Car Garage +; Attached Garage; Heated Garage; Garage Door Opener Owner Pays: Gas; Sewer; Trash; Water Tenant Pays: Electricity Heat Fuel: Gas Heating: Radiant Air Conditioning: Window Unit(s) Construction: Brick; Frame Services Available: Electricity Available; Natural Gas Available; Sewer Available; Water Available Miscellaneous: Basement; Fireplace; Garages; Public Transport; Security System; W/D Hookups New Financing: Conventional MLS Primary PhotoSrc: Realtor Provided

Documents

Offering Memorandum ›

Listing Office: New Millennium Realty

Listing Agent: Christopher M Zigan

Last Updated: January - 26 - 2025

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