Asking Price: $2,500,000 ($71.4k/door) Occupancy: 100% (per rent roll) Cap Rate (T12): ~7.9% (NOI $196,794) Unit Mix: All 1BR/2BR apartments

Investment Highlights

• Two properties, same street (17 + 18 units).

• Fully occupied, stabilized income-producing portfolio.

• T12 NOI: ~$196,794

• T12 Gross Income: ~$371,000

• Expenses: ~$174,000

• Upside w/ CMHA:

  • 1BR market ~$850, CMHA pays ~$1,100+

  • 2BR market ~$915, CMHA pays ~$1,344+

  • ~20–30% rent lift potential

Mechanical & Property Condition

• Parkhill (28050 Euclid Ave):

  • 17 Units

  • 17 Furnaces (with Central Air)

  • 2 Hot Water Tanks

• Hillendale (27800 Euclid Ave):

  • 18 Units

  • 17 Furnaces

  • 18 Hot Water Tanks

  • No AC units

Financial Snapshot

• Asking Price: $2.5M ($71.4k/door)

• Current Cap Rate: ~7.9%

• Stabilized Cap Rate (with Section 8 rents): 9.5–10%+

• Annual Gross Rent Potential (per rent roll): $362,628

Buyer Upside

• Section 8 rent program = guaranteed increases, ~$200–$400/unit upside.

• Strong tenant base, minimal CapEx required.

• Euclid submarket: solid rental demand, proven voucher tenant pool.

• Easy management with both buildings located on the same street.