Blisswood Village - 65 Unit Condo Portfolio
522 Clearview Dr, Euclid, OH 44123
Price
$3,400,000
Units
65
Cap Rate
10.2%
NOI
$346,700
Price / Unit
$52,308
Occupancy
98%
Year Built
1951
Type
Portfolio
Proforma
Cap Rate
11.75%
NOI
$399,373
About This Property
Rare opportunity to acquire a stabilized, 65-unit condo portfolio within a 268-unit community in the submarket of Euclid, Ohio offering both immediate yield and long-term upside. Comprised of two-bedroom, one-bath townhome style units, this portfolio sits at 98% occupancy and is operating at a strong 10%+ cap rate on actuals based on an asking price of $3.4M, with a clear trajectory to exceed double-digit returns through strategic rent increases on renewals. Currently grossing nearly $60,000 per month, the portfolio has a proforma monthly rent of over $66,000 once rents are raised to market. This is a rare chance for sophisticated investors to secure scale, control, and performance in a tight Cleveland submarket. INVESTMENT HIGHLIGHTS: - 65 stabilized units within a 268-unit community - High-demand location in Euclid, OH - 98% occupied - Strong 10%+ Cap Rate based on actuals - Proforma monthly rental income over $66K - Ensures a majority ownership position in the community - Renovated between 2023-2025, minimizing near-term capital expenditures OPPORTUNITY ZONE | CLASS B | BROKER CO-OP: YES