Commercial Real Estate for Sale at 14520 Milverton Road in Cleveland, OH for $940,000

Listing data updated April 21, 2025 - 4:29pm
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14520 Milverton Road | Cleveland

$940,000 | 0.0 Sq. Ft.

Incredible opportunity to acquire this 18-unit multifamily property boasting over 90% occupancy and numerous recent updates! Priced at an attractive cap rate of over 8% based on current financials, this asset offers immediate strong returns with the potential to exceed an 11% cap rate through a simple value-add strategy\u2014just bump rents upon lease renewals. The building features 12 spacious one-bedroom units and six two-bedroom units, all with open floor plans and plenty of on-site parking for residents! Tenants cover their own electric via baseboard heating, while ownership is only responsible for water, sewer, and common area electric. This is a low-maintenance, easy-to-stabilize investment with solid cash-on-cash returns and a great price per door\u2014perfect for investors seeking upside with minimal effort. MLSNow 5115330

Directions to property: North of HWY 422

MLS Listing ID: 
MLSNow 5115330
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$940,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Cleveland
Address: 
14520 Milverton Road, Cleveland, OH 44120
County: 
Cuyahoga
Latitude: 
41.4711040
Longitude: 
-81.5801510
Directions: 
North of HWY 422
Public Remarks: 
Incredible opportunity to acquire this 18-unit multifamily property boasting over 90% occupancy and numerous recent updates! Priced at an attractive cap rate of over 8% based on current financials, this asset offers immediate strong returns with the potential to exceed an 11% cap rate through a simple value-add strategy\u2014just bump rents upon lease renewals. The building features 12 spacious one-bedroom units and six two-bedroom units, all with open floor plans and plenty of on-site parking for residents! Tenants cover their own electric via baseboard heating, while ownership is only responsible for water, sewer, and common area electric. This is a low-maintenance, easy-to-stabilize investment with solid cash-on-cash returns and a great price per door\u2014perfect for investors seeking upside with minimal effort.
Community Information
School District: 
Cleveland Municipal - 1809
Subdivision: 
A C Spears Sub #3
Building Details
Details about the building on a property.
Year Built: 
1958
Living Area: 
0.0
Construction
Roof: 
Composition,Flat
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Electric
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.29
Lot Size (Area): 
0.29
Public Record
Parcel Number: 
130-18-138
Annual Tax: 
$20,188.00
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
Tal Tamir
Listing Office Name: 
Russell Real Estate Services

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