12955 Larchmere Boulevard, Shaker Heights, OH 44120

Property Description

This offering presents investors with an extremely rare chance to acquire a 30-unit multifamily asset in Cleveland’s sought-after Larchmere District, a submarket experiencing significant growth and revitalization. The property is comprised of 30 one-bedroom units, 20 of which have undergone recent renovations including modern kitchens, updated bathrooms, vinyl flooring, and new fixtures, complemented by refreshed common areas with new paint, lighting, and flooring. Additionally, a large single-family home situated on a separate lot provides a compelling value-add opportunity—either as a high-premium rental unit or a resale project yielding substantial equity upside. The asset is well-positioned for increased cash flow and double-digit returns through modest rent growth on renewals. With boiler heat, chiller cooling, and strong tenant demand in this thriving district, the property offers investors a stabilized, income-producing building with exceptional long-term upside.

Listing Status:

Active

Listing Office:

Russell Real Estate Services : 440-201-9850

Listing Agent:

Tal Tamir : 216-870-8687

MLS ID:

5149711

Interior

• A/C: Central Air
• Heating: Hot WaterSteam

Exterior

• Parking: On SitePaved

Construction

• Roofing: CompositionFlat

Location

• Originating MLS: NOWDD_NORM
• School District: Shaker Heights CSD - 1827
• County: Cuyahoga

Lot

• Zoning: 421 NOWDPK NORTHPK & S/L 134 ALL 0133 ALL 73631069736-31-048

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: NOWDD_NORM

This listing courtesy of Tal Tamir, Russell Real Estate Services