OH > Lakewood > W B Smiths
Lakewood, OH 44107,12511 Clifton BLVD
Lakewood, OH 44107,12511 Clifton BLVD
Lakewood, OH 44107,12511 Clifton BLVD
Lakewood, OH 44107,12511 Clifton BLVD
Lakewood, OH 44107,12511 Clifton BLVD
Lakewood, OH 44107,12511 Clifton BLVD
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Ryan Wanner

Ryan Wanner

+1(330) 224-3548
$ 5,250,000
Est. payment | /mo

1.77 Acres Lot

Save
$ 5,250,000
Est. payment | /mo
Save

1.77 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision W B Smiths

MLS Listing ID 5114577

HOA Y/N No

Year Built 1943

Annual Tax Amount $131,044

Tax Year 2024

Lot Size 1.769 Acres

Acres 1.769

Property Sub-Type Apartment

Property Description

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.

Location

State OH

County Cuyahoga

Interior

Heating Hot Water, Steam

Fireplace No

Exterior

Water Access Desc Public

Roof Type Composition,Flat

Present Use Residential

Building

Sewer Public Sewer

Water Public

Schools

School District Lakewood Csd (Cuyahoga)- 1817

Others

Tax ID 312-28-031

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687
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"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(330) 224-3548

ryan@wannergroup.com

4758 Dressler Rd, Canton, OH, 44718, Unite States

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12511 Clifton BLVD