66 Townhome/Condos at Blisswood Village - Euclid, OH
Blisswood Townhomes and Condominiums
Euclid, OH 44123
Highlights
- Added value
- 9% CAP (Proforma)
- Owner finance available for Qualified Buyers
- Over 50% renovated units
Description
ME Commercial has been exclusively retained to offer the opportunity to acquire full ownership interest in a portfolio of 66 Condominium Units within Blisswood Village in Euclid, Ohio, a major suburb of Cleveland. The portfolio consists of 66 townhomes, currently 96% occupied, within a 268-unit Condominium Complex with addresses on Fox Avenue, Kenwood Drive, and Clearview Drive. Over 50% of these townhomes have been fully renovated and leased at markedly increased rents, presenting a strong potential return on investment. This opportunity presents buyers with an approximate 25% ownership stake in the entire property, lending significant influence over the governing HOA. This sale of ownership interest is via sale of the current owner entity, which must be retained to continue leasing units under the current HOA bylaws. With the acquisition of this entity, new owners will retain the opportunity to continue purchasing owner-occupied units and expand the portfolio, or to spin off units at retail pricing to owner-occupants, netting a significant yield to reclaim capital.
Prospective buyers are encouraged to complete the Confidentiality Agreement and review all Due Diligence materials before contacting the listing agent(s).
Blisswood Villages is made up of 200+ townhomes/Condominiums. Blisswood Village is just minutes away from all major highways and only 15 minutes away from downtown Cleveland. We are excited to offer 66 Of these 200+ townhomes for sale. Over the years we have continued to build a portfolio of these townhomes. Many of these properties have been fully renovated and leased at increased rents as high as $900/month. With the average rent around $720/month there is still much more added value here! Located blocks away from the new Amazon distribution warehouse at I-90 and Babbitt Road. Euclid is home to many
major employers, shopping, retail and restaurants. Located blocks away from the shores of Lake Erie. The Cleveland
Clinic Main Campus, Case Western Reserve University and John Carroll University are all within a 15-minute commute
from the Blisswood Village complex. Additionally, Cleveland RTA public transportation is readily available in the area.
