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1075 East 74th St - Unbelievable opportunity for a value add opportunity. Converted School building into 40 artist loft style apartments. About 60% occupied. Most of building has been remodeled but about 13 units still need work. Lots of old school house charm with wide and tall halls and some original chalk boards. Private gated parking, video surveillance, coin laundry and pop machine, managers office, sitting on over 2 acres, at current occupancy its still operating at about a 16% cap rate. once fully occupied will be a cash cow.

Listing information

  • MLS® ID: 3812088
  • Status: Sale Pending
  • New Construction: No
  • Estimated Annual Taxes: $18,320
  • Style: Commercial
  • Stories: 2
  • Foreclosure: No
  • County: Cuyahoga
  • Year Built: 1904
  • Parking Type Description: Driveway / Parking Apron 0 cars
  • Lot Area: 2.08

Features

Apartments Type Apartments Only
Assessments Y/N No
Available Financing Cash, Conventional, Land Contract
Basement Detail Finished, Full
Cooling Type None
Elevator Y/N No
Fences Full
Heating Fuel Gas
Heating Type Forced Air, Radiators, Zoned
Homestead Exemption Y/N No
Location Freestanding
Miscellaneous Features Fire Sprinkler Syste, Janitorial Services, Security Lighting, Security System
Other Lot Size Frontage - 364, Num Of Apartments Total - 40, Num Of Units - 40, Residential SF - 47764
Owner Pays Sewer, Trash Collection, Water
Possession Time of Transfer
Property Subtype Apartment
Roof Flat
Tenant Pays Electric, Gas, Heating
Water Sewer Public Sewer, Public Water
Listing Courtesy of Platinum Real Estate