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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.PROPERTY FEATURES
Water Source : Public
Sewer System : PublicSewer
Roof : Composition,Flat
Property Sub-Type Additional : Apartment
Current Use : Residential
Heating : Yes.
Heating : HotWater,Steam
PROPERTY DETAILS
Street Address: 12511 Clifton Boulevard
City: Lakewood
State: Ohio
Postal Code: 44107
County: Cuyahoga
MLS Number: 5114577
Year Built: 1943
Courtesy of Russell Real Estate Services
City: Lakewood
State: Ohio
Postal Code: 44107
County: Cuyahoga
MLS Number: 5114577
Year Built: 1943
Courtesy of Russell Real Estate Services
Courtesy of Russell Real Estate Services
