Eight-Unit Multifamily
New
For Sale
$525,000
23856 Banbury Cir, Cleveland, OH 44128
Fully occupied condominium units feature renovated interiors, individual utility responsibility, and point-of-sale compliance.
Property SizeContact for details
Days on Market7
Property Features for 23856 Banbury Cir
General Information
Standard status
Active
Occupancy
100%
Financials
Asking Price
$525,000
Cap Rate
10.9%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$9,144
Listing Agency:
Russell Real Estate Services
(440) 201-9850
Listed By:
Tal Tamir · License #2018001908
(216) 870-8687
Source:
Exprealty
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 21 at 1:37PM
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 Russell Real Estate Services
Investment Insights
Based on property information with market context.
This multifamily offering includes eight fully occupied condominium units within one condominium community. The portfolio contains two- and three-bedroom residences located across Caroline Drive and Banbury Court and Circle. Interior improvements include updated kitchens with stainless steel appliances, tile flooring, refinished hardwood floors, and refreshed bathrooms. Each unit is served by gas forced-air heat, public water, and public sewer, with utility responsibility divided between tenants and the landlord by unit.
The units are being delivered point-of-sale compliant and operate under one HOA serving the portfolio. Current performance reflects a 10.9 percent cap rate, while underwriting indicates a 12.2 percent pro forma cap rate. The property is positioned near I-271 and I-480, Cleveland Clinic South Pointe Hospital, Eaton Corporation, and Cuyahoga Community College Corporate College. Rent roll, financial statements, and lease information are available through the Document Center.
The units are being delivered point-of-sale compliant and operate under one HOA serving the portfolio. Current performance reflects a 10.9 percent cap rate, while underwriting indicates a 12.2 percent pro forma cap rate. The property is positioned near I-271 and I-480, Cleveland Clinic South Pointe Hospital, Eaton Corporation, and Cuyahoga Community College Corporate College. Rent roll, financial statements, and lease information are available through the Document Center.
Key Highlights
- Eight fully occupied condominium units in one community
- Two- and three‑bedroom unit mix across Caroline Drive and Banbury Court and Circle
- 10.9 percent in‑place cap rate with a 12.2 percent pro forma cap rate
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 44128, OH
28,146
Population
14,184
Households
2
Avg Household Size
41
Median Age
18%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,198
Density / Sq Mi
$44,615
Median Household Income
$32,719
Median Earnings
$957
Median Rent
$90,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully occupied condominium units feature renovated interiors, individual utility responsibility, and point-of-sale compliance.
Where is this multifamily property located?
The property is located at 23856 Banbury Cir Cleveland, OH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Eight fully occupied condominium units in one community; Two- and three‑bedroom unit mix across Caroline Drive and Banbury Court and Circle; 10.9 percent in‑place cap rate with a 12.2 percent pro forma cap rate
