HEIGHTS APARTMENTS • CLEVELAND HTS. & SHAKER HTS., OHIO
The Numbers
| Purchase Price: | $9,200,000 |
| Capital Improvements: | $410,000 |
| NOI: | $924,000 |
| Cap Rate: | 6.5% |
| Stabilized Value: | $14,250,000 |
| Equity: | $4,220,000 |
| Refinance Proceeds: | $800,000 |
| Cash Flow: | $217,400 |
164-unit Apartment Complex, acquired in August 2019
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