4075 Monticello Blvd Cleveland Heights, OH 44121

Property Details for 4075 Monticello Blvd

Year built

1962

Lot size

2.28 lot acres

Property size

45,420 SF

Property type

Commercial real estate

APN

682-18-007 ;791-18-035

Description

This exceptional investment opportunity presents two well-maintained multifamily properties in prime Cuyahoga County, Ohio locations. Belvoir Center (76 units), situated on 4.65 acres at 4075-4095 Monticello Blvd, Cleveland Heights, OH 44121, boasts 40 one-bedroom and 36 two-bedroom units, averaging 826 square feet. Built in 1962, this three-story, three-building complex features brick exteriors and flat roofs, with vinyl, carpet, laminate, and ceramic flooring. The property enjoys a 96.05% occupancy rate and benefits from its proximity to major employers, including nearby Amazon fulfillment centers. Stoneybrook Apartments (54 units), located at 21831 Libby Rd, Bedford Heights, OH 44146, sits on 2.28 acres. This three-story, four-building complex, also constructed in 1962, offers 24 one-bedroom, 27 two-bedroom, and three three-bedroom units, averaging 841 square feet. The buildings feature brick exteriors and gable roofs, with vinyl, carpet, laminate, and ceramic flooring. Both properties offer significant upside potential through renovations and interior upgrades, given the current market shortage of new construction and below-replacement costs. The combined portfolio totals 130 units, spread across seven buildings, with a total square footage ranging from 45,420 to 66,371. The properties are offered "free and clear," presenting an excellent opportunity for investors to leverage current interest rates and achieve strong cash-on-cash returns. Conveniently located near major employers, hospitals, and Cleveland Hopkins Airport, these properties represent a compelling investment in a strong rental market. Parcel numbers are 682-18-007 and 791-18-035. Parking is available for 60 vehicles.