List Price/SqFt: 51.73
City (Mailing Addr): Shaker Heights
Corp LimitPerAuditor: Shaker Heights
Dist To Intersxn: 0
For Sale: Yes
Exchange: No
# of Buildings: 1
Occupancy Rate: 100
Built Prior to 1978: Yes
Building Sqft: 21265
Lot Size (Side): 171
Use Code: 401 - APARTMENT:4-19 UNITS
Number of Units: 12
Year Built: 1939
Acreage: 0.65
Tax Abatement: No
Taxes (Yrly): 31529.5
Tax Incentive: No
Parcel #: 735-02-005
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.
Sold Price/SqFt: 47.03
Under Contract Date: 2019-02-11
Sold Date: 2019-05-14
Sold Price: $1,000,000
Gross Income: 179400
Net Operating Income: 81777.64
Total Expenses: 88652.64
Financials ForYearOf: 2017
Gross Rental Income: 179400
Effective Income: 170430
Vac & Cr Loss: 8970
Efficiency # of Units: 2
Efficiency Month Rent Per Unit: 475
R.E. Taxes: 31529.5
Property Insurance: 7733
Repairs&Maintenance: 12620
Misc Expense: 14988.64
Property Management: 8521.5
1 Bedroom # of Units: 2
1 Bedroom Month Rent Per Unit: 857.5
2 Bedroom # of Units: 3
2 Bedroom Month Rent Per Unit: 1054
3 Bedroom # of Units: 1
3 Bedroom Month Rent Per Unit: 1200
5 Car Garage +: 1
Attached Garage: 1
Heated Garage: 1
Garage Door Opener: 1
Electricity Available: 1
Natural Gas Available: 1
Sewer Available: 1
Water Available: 1
Other # of Units: 4
Other Month Rent Per Unit: 1981.25
Basement: 1
Fireplace: 1
Garages: 1
Public Transport: 1
Security System: 1
W/D Hookups: 1
Auction/Online Bidding Y/N: No
Gas: 1
Sewer: 1
Trash: 1
Water: 1
Original List Price: 1100000
Sold Price: $1,000,000
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
Status: Closed
MLS Entry Date: 2018-05-02
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
Offering Memorandum ›