Exp Realty, LLC.
Exp Realty, LLC.
Daniel McGarry, Exp Realty, LLC.Phone: (440) 749-2979
Email: [email protected]
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listing
1 of 50
CommercialFor Sale
$5,250,000
12511 Clifton Boulevard
Lakewood, OH 44107
Courtesy of Russell Real Estate Services
MLS: MLS Now
Est. Mortgage
$27,200/mo

Rare Investment Opportunity in Lakewood’s Prestigious Gold Coast Submarket! Seize the chance to acquire a 75-unit portfolio in Cleveland’s highly coveted Lakewood Gold Coast. This portfolio features two well-maintained properties on Clifton Blvd: The Traymore, offering 29 spacious two-bedroom units, and Clifton Cove, with 46 one-bedroom units. With 75-80% of units already renovated and $1.2M in recent capital improvements since 2022, the properties boast stability and minimal immediate work required. Based on the current rent roll and normalized expenses, the portfolio delivers an impressive 8.3% cap rate with a clear roadmap to achieve double-digit returns. Currently at 92% occupancy, investors can enjoy strong cash flow from day one, with additional value-add potential through cosmetic updates and rent optimization. Situated in one of Cleveland’s top-performing rental markets, this portfolio is a prime opportunity to secure high returns in a desirable, high-demand location.

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Information courtesy of Russell Real Estate Services is subject to verification and is not guaranteed.
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