Commercial Real Estate for Sale at 12511 Clifton Boulevard in Lakewood, OH for $5,250,000

Listing data updated April 16, 2025 - 5:25pm
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12511 Clifton Boulevard | Lakewood

$5,250,000 | 0.0 Sq. Ft.

Rare Investment Opportunity in Lakewood\u2019s Prestigious Gold Coast Submarket! Seize the chance to acquire a 75-unit portfolio in Cleveland\u2019s 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\u2019s top-performing rental markets, this portfolio is a prime opportunity to secure high returns in a desirable, high-demand location. MLSNow 5114577

Directions to property: North of I-90

MLS Listing ID: 
MLSNow 5114577
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: 
$5,250,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Lakewood
Address: 
12511 Clifton Boulevard, Lakewood, OH 44107
County: 
Cuyahoga
Latitude: 
41.4887130
Longitude: 
-81.7759100
Directions: 
North of I-90
Public Remarks: 
Rare Investment Opportunity in Lakewood\u2019s Prestigious Gold Coast Submarket! Seize the chance to acquire a 75-unit portfolio in Cleveland\u2019s 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\u2019s top-performing rental markets, this portfolio is a prime opportunity to secure high returns in a desirable, high-demand location.
Community Information
School District: 
Lakewood CSD (Cuyahoga)- 1817
Subdivision: 
W B Smiths
Building Details
Details about the building on a property.
Year Built: 
1943
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: 
Hot Water,Steam
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
1.77
Lot Size (Area): 
1.77
Public Record
Parcel Number: 
312-28-031
Annual Tax: 
$131,044.00
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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