14-Unit Brick Apartment
New
For Sale
$1,100,000
4230 Ridge Road, Brooklyn, OH 44144
The property includes coin-operated laundry and individually metered utilities.
Property Size10,080 SF
Days on Market6
Property Features for 4230 Ridge Road
General Information
Standard status
Active
Size
10,080 SF
Total Parking Spaces
12
Property subtype
Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
8 x 1BR, 6 x 2BR
Multifamily Units
14
Taxes and HOA fees
Annual Taxes
$18,968
Amenities
coin-laundry
Building Details
Building Size
10,080 SF
Year Built
1958
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Elevate
Listed By:
Antonio Biasiotta · License #2015003682
(440) 223-0575
Source:
Asacoxhomes
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 16 at 5:39AM
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 Keller Williams Elevate
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Investment Insights
Based on property information with market context.
This 14-unit brick apartment building, constructed in 1958, contains eight one-bedroom apartments and six two-bedroom apartments. Residents have access to 12 covered parking spaces and coin-operated laundry, and utilities are individually metered.
Storm-related water damage affected several upper-floor apartments. Restoration included a new roof and extensive interior work, with the impacted units rebuilt from the studs. The property is on Ridge Road in Brooklyn, Ohio, with access to I-480 and I-71.
Storm-related water damage affected several upper-floor apartments. Restoration included a new roof and extensive interior work, with the impacted units rebuilt from the studs. The property is on Ridge Road in Brooklyn, Ohio, with access to I-480 and I-71.
Key Highlights
- 14 apartments: eight one‑bedroom units and six two‑bedroom units
- 12 covered parking spaces
- Brick building constructed in 1958
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,644
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,992,880
$2.0M
Cap Rate 7%
$1,423,486
$1.4M
Cap Rate 9%
$1,107,156
$1.1M
Market Conditions
NOI Build-Up for 10,080 SF
Gross rent
$192.3K $19.08/SF
− Vacancy
−$11.2K −$1.11/SF
EGI
$181.2K $17.97/SF
− OpEx
−$81.5K −$8.09/SF
NOI
$99.6K $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%
$1,992,880
Cap Rate 7%
$1,423,486
Cap Rate 9%
$1,107,156
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.25M – $1.66M
NOI $99,644 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.08M
$7.07M – $9.42M
NOI $565,357 @ 7.0% cap · market cap 51.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
14
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 44144, OH
21,361
Population
9,994
Households
2.1
Avg Household Size
42
Median Age
20%
College-Educated
88%
High-School Grad
5.5 sq mi
ZIP Area
3,884
Density / Sq Mi
$59,775
Median Household Income
$37,318
Median Earnings
$923
Median Rent
$138,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes coin-operated laundry and individually metered utilities.
Where is this apartment building located?
The property is located at 4230 Ridge Road Brooklyn, OH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 14 apartments: eight one‑bedroom units and six two‑bedroom units; 12 covered parking spaces; Brick building constructed in 1958
