Fully Renovated 21-Unit Apartment
For Sale
$2,150,000
20000 Van Aken Blvd, Shaker Heights, OH 44122
Turnkey, fully renovated multifamily asset positioned for stabilized cash flow and an easy investor transition.
Property Size19,237 SF
Days on Market138
Property Features for 20000 Van Aken Blvd
General Information
Standard status
Active
Size
19,237 SF
Property subtype
Multifamily
Additional Details
Business Included
Yes
Multifamily Units
21
Building Details
Building Size
19,237 SF
Year Built
1952
Listing Agency:
NAI Pleasant Valley
Listed By:
Evan Pannell · License #2017005596
(330) 715-4801
Source:
Naiglobal
Added: Jun 2
Changed: Oct 11
Last Checked: Oct 16 at 6:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Pleasant Valley
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Investment Insights
Based on property information with market context.
This fully renovated 21-unit apartment building presents a turnkey opportunity for investors seeking stabilized cash flow. The property has been updated throughout, offering a ready-to-operate configuration without requiring immediate capital planning. With a focus on long-term consistency, the renovation supports durable income potential for an owner looking for dependable performance.
Set in one of Cleveland’s most coveted suburbs, the building offers residents practical access to major employment and cultural drivers, along with proximity to Downtown Cleveland. The area also benefits from a highly rated public school system and an established network of parks, retail districts, and cultural amenities.
For buyers and operators, this asset is an attractive fit for a hands-on investor or an institutional-style buyer seeking a stabilized, renovated multifamily holding. Its turnkey nature and fully renovated condition make it particularly compelling for those looking to deploy capital with minimal disruption and maintain a steady operating profile.
Set in one of Cleveland’s most coveted suburbs, the building offers residents practical access to major employment and cultural drivers, along with proximity to Downtown Cleveland. The area also benefits from a highly rated public school system and an established network of parks, retail districts, and cultural amenities.
For buyers and operators, this asset is an attractive fit for a hands-on investor or an institutional-style buyer seeking a stabilized, renovated multifamily holding. Its turnkey nature and fully renovated condition make it particularly compelling for those looking to deploy capital with minimal disruption and maintain a steady operating profile.
Key Highlights
- Fully renovated 21‑unit multifamily property
- Year built: 1952
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,164
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,803,280
$3.8M
Cap Rate 7%
$2,716,629
$2.7M
Cap Rate 9%
$2,112,933
$2.1M
Market Conditions
NOI Build-Up for 19,237 SF
Gross rent
$367.0K $19.08/SF
− Vacancy
−$21.3K −$1.11/SF
EGI
$345.8K $17.97/SF
− OpEx
−$155.6K −$8.09/SF
NOI
$190.2K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,803,280
Cap Rate 7%
$2,716,629
Cap Rate 9%
$2,112,933
Alternative Uses
Best Use
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,164 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$15.41M
$13.49M – $17.98M
NOI $1,078,947 @ 7.0% cap · market cap 50.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
21
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 44122, OH
36,268
Population
17,795
Households
2
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,901
Density / Sq Mi
$97,469
Median Household Income
$58,334
Median Earnings
$1,509
Median Rent
$304,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey, fully renovated multifamily asset positioned for stabilized cash flow and an easy investor transition.
Where is this apartment building located?
The property is located at 20000 Van Aken Blvd Shaker Heights, OH.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Fully renovated 21‑unit multifamily property; Year built: 1952
