Grasmere Apartments 15000 Euclid Ave., East Cleveland

Description:

41 UNIT GRASMERE APARTMENTS, EAST CLEVELAND. The next owner will benefit from several recent improvements that are significant to the long term performance of this multi-unit apartment building. Major electrical, plumbing and almost all of the units have been refreshed. Low maintenance masonry construction with seperately metered electric. Owner is in the process of leasing the building back up so it is a perfect opportunity for new management to take it over and benefit. Operationally, this building has the ability to provide impressive returns utilizing a past history of market rents and affordable housing programs. A few shell units remain in the lower level providing the opportunity to increase the number of total units or enhance with common areas. On site laundry facility, electronic keyed entry, security cameras and recently improved fire alarm system offers convenience for the residents.

The market has responded well to both Section 8 and Eden vouchers. Grasmere Apartments offer affordable 1 & 2 bedroom units located in the 44112 area of Cleveland, minutes away from public transportation, parks, shopping, recreation and the popular University Circle. The units offer newer appliances, walk-in closets, upgraded kitchen and bathroom.


East Cleveland, Ohio, incorporated in 1911 as the state's first suburb. It is a 3-square-mile city adjacent to Cleveland's University Circle and Glenville neighborhoods on the west and Cleveland Heights on the south/east. Access to the Greater Cleveland Regional Transit Authority (RTA) and close proximity to major interstates (I-90, I-71, I-77, I-271).