Rare opportunity to own one of the newest mixed-use residential buildings in the rapidly growing Theater District. 1224 Huron Road, AKA: Starr Piano Lofts, was the 2018 Downtown Cleveland Alliance Development award recipient.
Starr Piano Lofts in PLAYHOUSE SQUARE, CLEVELAND, OHIO:
Hoff & Leigh is proud to offer the newest mixed-use, 9 residential & 1 retail unit, The Starr Piano Lofts. Located at 1224 Huron Ave, Cleveland, OH 44115, in the Playhouse Square / Theater District. Offered for Sale: $3,300,000. The Starr Piano Lofts is an award-winning historical renovation and consists of 3 one-bedroom & one-bath units and 6 two-bedroom & two-bath units, all with in-suite laundry. Three units overlooking Playhouse Square. The property is a solid fully leased investment opportunity with upside potential!
Storage lockers and parking can provide additional income. Excellent location, one block from E 9th Street, all major sports arenas and at the corner of the RTA Health-Line. Owner paid trash removal and water / sewer; tenant paid electric only.
Projected NOI at increased market rates at $192,032 or a 6% cap at the asking price of $3,300,000. Currently the property is 100% Occupied!