38 Unit B+ Apt Complex For Sale in the Greater Cleveland Area

[George Hoover]

I am aware of a soon to be on the market 38 unit apartment complex in the greater Cleveland area.  Numbers are being gathered now and should be ready in about 2 weeks.  Here are the specs:

• B+ community
• It will probably be listed at about $2.5MM
• Probably an 8% CAP rate
• Me and another colleague would represent you as your licensed real estate agents 
• You will be responsible for the broker commission
• This will go very quickly due to the lack of inventory

Sorry to be so vague, but that is really all of the information I have right now.  I promise you this is not a fishing expedition.

Obviously the numbers have to work before you can commit.  But if you are seriously interested, please contact me only if you have experience owning, managing or buying complexes of this size AND if you have immediate access to funds.  This could be a great syndication deal but you need to have firm investors and lenders in place simply because you will have competition for this apartment complex.

I look forward to hearing from you