🔥 Off-Market 348 Units Class A Multifamily Opportunity (With Financing) 🔥

[Kevin Green]

📍 348 Units in Cleveland, OH (DM me for full address)
💰 Price: $85,000,000
🏢 Property Type: Class A Multifamily

🔥 THE OFFERING 🔥

Rare opportunity to acquire a premier Class A multifamily asset, one of Cleveland’s most sought-after submarkets. This high-end, 348-unit luxury community offers top-tier amenities, structured underground parking, and significant value-add potential for investors.

🔥 PROPERTY HIGHLIGHTS 🔥

📍 Full Address: Contact me
🏗 Year Built: 2015
🏢 Number of Units: 348
🏠 Stories: 4 (with underground parking)
📏 Total SF: ±372,685 SF
📐 Average Unit Size: ±1,071 SF
💼 Occupancy (as of 1/24/2025): 96%
💰 Average Market Rent: $2,020/month ($1.89/SF)
🚗 Parking: 631 spaces (assigned underground & private garages w/ monthly fee)

🔥 PRICING & FINANCIALS 🔥

💲 Pricing Guidance: $85,000,000
📉 Cap Rate: ~6% (Year 1 tax-adjusted NOI)
🏦 Assumable Debt: 4.06% Fannie Mae loan available, allowing for maximum leverage at below-market rates
📂 Access to Financials: Contact me

🔥 VALUE-ADD OPPORTUNITIES 🔥

🔹 Rent Growth Potential
✅ 5% lease trade-out & renewal increases projected for 2024
✅ Current rents 22% below market comps, despite larger unit sizes
✅ Premium unit upgrades could increase rent by $604/unit/month

🔹 Operational Efficiencies
✅ Expenses above market norms—opportunities for cost reductions
✅ Additional revenue from cable/internet exclusivity, parking fees, and Valet Trash expansion

🔹 Amenity Optimization
✅ Underutilized spaces like Kid Room & Art Gallery could be repurposed into a movie theater, game room, or co-working space for remote workers

🔥 RESORT-STYLE AMENITIES 🔥

🌟 Exterior Features:
✅ Resort-style outdoor heated pool
✅ Landscaped gardens, Zen garden, relaxation courtyard & fire pits
✅ Heated underground parking, EV charging station & car wash
✅ Bike storage & enclosed dog run
✅ Outdoor terrace with fireplace, kitchen & Wi-Fi

🏠 Interior Features:
✅ Attended front desk concierge & refrigerated package storage
✅ Clubhouse with billiards, lounge, pool views & Wi-Fi
✅ 2-story fitness center & yoga/spin studio
✅ Kids playroom, conference room, art gallery & private 4th-floor lounge
✅ Smoke-free community with breathtaking downtown Cleveland views

🔥 ADDITIONAL TERMS 🔥

💰 Buyer Fee: 2% buyer fee 
📂 Due Diligence: Full OM, rent roll, T-12 financials, and additional data available upon request

📞 For serious inquiries & full due diligence access, connect with me.

⚠️ Serious, qualified buyers only. Proof of funds (POF) or lender pre-approval required before full disclosure.

🔥 DON’T MISS OUT ON THIS HIGH-YIELD CLASS A MULTIFAMILY ASSET! 🔥