Nottingham Place

Nottingham Place

Cleveland, OH
Available
  • Property Type: Apartments
  • Year Built : 1964
  • Property Size: / 96 Units

Overview

Capstone Apartment Partners is pleased to present the opportunity to acquire Nottingham Place, a 96-unit garden-style apartment complex located in the South Collinwood submarket of Cleveland, OH. The asset is located within a Qualified Opportunity Zone, which has seen generous investment in recent years, allowing new ownership to benefit from ascending economic trends. New ownership will have multiple avenues to increase EGI immediately upon acquisition, including significant loss-to-lease recapture and the ability to trade out Section-8 leases to full market rate. The asset offers investors the unique opportunity to acquire free & clear or with an assumption of the current loan. As the price of debt continues to rise, this may be a preferable option. 

Investment Highlights

  • Asset Located Within a Qualified Opportunity Zone
  • Firmly in the Path of Progress
  • Nearby One-Bedroom Units Renting for $150+ Premiums
  • Multiple Sources to Increase EGI
  • Ability to Assume Current Loan

Contact Information

Sherief Gouda Senior Advisor P: 513.252.1427
O: 800.746.3175 ext. 708
sherief@capstone-companies.com
Stash Geleszinski, CCIM Managing Director P: 513.506.2872
O: 800.746.3175 ext. 705
stash@capstone-companies.com
Nathan Murphy Senior Advisor P: 513.460.5941
O: 800.746.3175 ext. 707
nathan@capstone-companies.com
William Thurner P: 513.364.8600
O: 800.746.3175 ext. 735
wthurner@capstone-companies.com
Kevin Burns Investment Sales Advisor P: 239.272.1661
O: 800.746.3175 ext. 739
kburns@capstone-companies.com
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