Shaker Hall | 12700 Shaker Blvd
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Shaker Hall 12700 Shaker Blvd
103 Unit Apartment Building For Sale 7.52% Cap Rate Cleveland, OH 44120
INVESTMENT HIGHLIGHTS
- Shaker Hall offers a 103-unit multifamily community investment with consistently high occupancy and a prime location adjacent to Shaker Square.
- Over $700k in recent upgrades, including repairs to building systems, upgrades to suites and common areas, and updates to the elevator and roof.
- This exceptional location attracts tenants with easy access to popular local restaurants, shops, parks, and public transportation.
- Numerous retail amenities sit nearby, including Dave’s Market, Subway, McDonald’s, Atlas Cinemas, and many more.
EXECUTIVE SUMMARY
Shaker Hall consists of 103 units in Cleveland's Historic Shaker Square Neighborhood. The property has recently undergone extensive capital repairs, including upgrades to suites and common areas, elevator upgrades, and roof updates. A new investor could continue unit upgrades and take advantage of rising rental rates in this submarket.
Shaker Hall is a seven-story elevator-served community with garage parking and coin laundry. The owner pays for gas, heat, electricity, water, and sewer utilities. The building is well located minutes away from major employers and institutions in University Circle, Downtown Cleveland, and the Eastern Suburbs. Tenants are blocks from local shops, restaurants, and public transportation at Shaker Square, as well as minutes from major employers in the Eastern Suburbs, University Circle, and Downtown Cleveland.
Shaker Hall is a seven-story elevator-served community with garage parking and coin laundry. The owner pays for gas, heat, electricity, water, and sewer utilities. The building is well located minutes away from major employers and institutions in University Circle, Downtown Cleveland, and the Eastern Suburbs. Tenants are blocks from local shops, restaurants, and public transportation at Shaker Square, as well as minutes from major employers in the Eastern Suburbs, University Circle, and Downtown Cleveland.
PROPERTY FACTS
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.52% | Lot Size | 0.85 AC |
| No. Units | 103 | Building Size | 130,612 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 6 |
| Apartment Style | Mid-Rise | Year Built | 1957 |
| Sale Type | Investment |
| Cap Rate | 7.52% |
| No. Units | 103 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.85 AC |
| Building Size | 130,612 SF |
| Average Occupancy | 90% |
| No. Stories | 6 |
| Year Built | 1957 |
SITE AMENITIES
- Laundry Facilities
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 84 | $1,429 CAD | - |
| 2+1 | 12 | $1,651 CAD | - |
Walk Score®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 129-10-002 | Improvements Assessment | $1,796,383 CAD |
| Land Assessment | $90,887 CAD | Total Assessment | $1,887,270 CAD |
PROPERTY TAXES
Parcel Number
129-10-002
Land Assessment
$90,887 CAD
Improvements Assessment
$1,796,383 CAD
Total Assessment
$1,887,270 CAD
ZONING
| Zoning Code | MF-2 |
| MF-2 |
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Shaker Hall | 12700 Shaker Blvd
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