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29655 Detroit Rd Westlake, OH 44145

Sponsored
For Sale
$2,500,000

15-Unit Multifamily, High Occupancy

Property size:
15,876 SF

Description

Added:
Dec 11, 2024
Days on Market:
418
This exceptional 15-unit apartment building presents a compelling investment opportunity in Westlake, Ohio. Situated on a 0.61-acre lot at 29655 Detroit Rd (44145), this three-story, 15,876 square foot building boasts 100% occupancy. Built in 1963 and extensively renovated in 2018, the property features a mix of one, two, and three-bedroom units, each modernized within the last six years. Residents enjoy ample parking with over 20 spaces available. The property benefits from a prime location near Crocker Park, I-90, and a major RTA line, offering convenient access to shopping, dining, and transportation. Further enhancing its appeal, the building includes a common laundry facility generating additional income. Recent upgrades (since 2022) encompass windows, the parking lot, security systems, plumbing, and electrical systems. The property is zoned R-MF24 and includes an assumable loan at 4.1%. Financial statements and rent rolls are available upon request. This stabilized investment offers a price per unit of $166,666.67, with a total asking price of $2,500,000 ($157.47/sq ft). The property's APN is 211-27-005.

Property Features for 29655 Detroit Rd

General Information

Property type
Multifamily properties
Square Feet
15,876 SF
Lot Size
26,572 SF

Building Details

Year Built/Renovated
1963/2018
Buildings
1
Stories
3
Units
15

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Listing Contact
Michael Pasadyn Jr
Michael Pasadyn Jr

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Location Insight

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City
Westlake
County
Cuyahoga
State
Ohio
Longitude
-81.9488416
Latitude
41.4635718

FAQs

What type of property is this?
Multifamily property - 15-Unit Multifamily, High Occupancy
Where is this multifamily property located?
The property is located at 29655 Detroit Rd Westlake, OH.
What is the asking price?
The asking price for this property is $2,500,000.
More about this property
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