15432 Lake Shore Boulevard Cleveland, OH $ 1,925,000
15432 Lake Shore Boulevard
$ 1,925,000
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15432 Lake Shore Boulevard

Cleveland, OH, 44110
$ 1,925,000
Bedrooms-- Baths--

Monthly Estimate*

$ 11,529

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Commercial Property for sale in Cleveland, OH

for $1,925,000. This building was built in 1920 on a lot size of 0.3411.

ABSOLUTELY GORGEOUS!! The perfect addition for any real estate portfolio. Completely renovated top to bottom - Newer: plumbing, electric, HVAC, roof, gutters and vinyl windows (120 of them!!). 19 unit apartment building (6 - studio, 8 - 1 Bed, 5 - 2 bed units) with 3 retail storefronts and an office space. Incredible occupancy rate - apartments will be 100% occupied by the end of the month. Adjacent parcel also included providing 13 - 16 parking spaces. Literally, every unit was gutted and remodeled. Each unit boasts refinished hardwood floors, 8 ft ceilings, updated kitchens (include: refrigerator, stove and microwave), updated bathrooms, in unit tank-less water heaters, furnaces and electric panels. Retail storefronts have also been completely renovated. Current gross rent w/ laundry is $190,992 - this does not include the office space (owner occupies) or the "rent ready" 2850 Sqft vacant retail storefront. ENORMOUS POTENTIAL for INCREASED INCOME: (1) Current rents are well below CMHA rental benchmarks (2) 5000 Sqft basement could be converted to add 4 additional 2 bedroom units and a 1 bedroom unit (3) Charging for parking spaces - $50 per month. Current cap rate 7.85 - could be considerably higher. Located in a high traffic and high rental demand area. Close to highway access, minutes from downtown Cleveland, close to Cleveland Clinic, University Hospital, Euclid Hospital, Lake Erie parks and beaches, restaurants, shopping and public transit. This is an exceptional property, location and opportunity!!!

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Commercial Active

Price

$ 1,925,000

Property Type

Commercial

Taxes

$ 11,504

Style

Lot Size

0.3411

Year Built

1920

Town/City

Cleveland

County/Region

Cuyahoga

MLS | Web ID

5037580

Features
General
Sewer PublicSewer
Heating ForcedAir HotWater Steam
Cooling CentralAir
Possession Negotiable
Roof Rubber
Year Built 1920
Stories 3
Township Cleveland
Levels ThreeOrMore
Property SubType Apartment
Tax Year 2023
Additional Parcels Description 112-15-003
County Cuyahoga
Operating Expense 30024.0
New Construction N
Property Type CommercialSale
HOA N
Attached Garage N
Subdivision Name Thompson
Garage Y/N N
Building Features PrivateRestrooms
Status Active
Directions Just East of 152nd St. Corner of Lake Shore Blvd and Glencoe Rd.
City Cleveland
Senior Community Y/N N
High School District Cleveland Municipal - 1809
Zoning Description See Remarks
Lot Size Units Acres
Waterfront Y/N N
Carport Y/N N
Electric On Property Y/N N
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 11504.0
Home Warranty Y/N N
Property Condition UpdatedRemodeled
Water Sewer Expense 9600.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://my.matterport.com/show/?m=1SNwg2t7c41
Building Area Units SquareFeet
Living Area Units SquareFeet
Standard Status Active
Middle/Junior School District Cleveland Municipal - 1809
Elementary School District Cleveland Municipal - 1809
Year Built Source PublicRecords
Total Actual Rent 234192.0
Property Sub Type Additional Apartment
Legal Description 16 TGCO S/L 19 ALL 0018 ALL
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Interior
Basement Full Unfinished
Total Stories 3
Basement (Y/N) Y
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Laundry Features CoinOperated
Main Level Bathrooms 0
Total Baths 0
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Exterior
Parking Features AdditionalParking NoGarage ParkingLot
Water Source Public
Total Parking 16.0
Lot Size Area 0.3411
Foundation Details Basement
Number of Buildings 1
Spa N
Building Area Total 27216.0
Lot Size Acres 0.3411
Lot Size Source PublicRecords
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 15432
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* Excluded Features
List By
Larry R Wanke

Listing Agent

Keller Williams Greater Metropolitan

Broker

larrywanke@att.net

Email

Affordability Calculator

$12,488
Per Month
92%
8%
0%
Monthly Principal & Interest
$11,529
Monthly Property Taxes
$959
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4457612 Elementary School
4457721 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/12/2024$1,925,000 Listed Price

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15432 Lake Shore Boulevard, Cleveland, OH, 44110 is a Commercial Property for sale at $1,925,000 with a lot size of 0.3411. 15432 Lake Shore Boulevard was built in 1920. The property's zip code is 44110 which is in Cleveland, OH