12491-12497 Cedar Rd Cleveland Heights, OH 44106
Sterling Cedar Hill
Cleveland Heights, OH
Offering Summary
- Building Name Sterling & Cedar Hill
- Address: 12491-12497 Cedar Rd
- Units: 37
- City, ST, Zip Cleveland Heights, OH 44106
- Year Built: 1923
- Buildings 1
- Average Unit Size: +/- 847 SF
- Average In-Place Rent (/SF) $809 ($0.96/SF)
- Physical Occupancy 89.2%
- Leased Occupancy: 94.6%
• Owned and self-managed by local, private investor for the past 40+ years
• Significant recent capital improvements include 2 new boilers (2024) and a new roof (2023)
• More than $58,800 of annual organic rental income growth by increasing below market rents
• Located in the central core of the Cedar-Fairmount District - One of Cleveland’s trendiest neighborhoods and walking distance to 60+ restaurants, retailers, and small businesses
• 3 minutes from Case Western Reserve University - Top 50 college in US and more than 20,000 total students and staff
• Less than 5 minutes from the region’s 2 major hospital systems and top employers - Cleveland Clinic and University Hospitals (72,000+ full time doctors and physicians)
• Less than 7 minutes from University Circle and Little Italy (75+ restaurants, 50+ shops and small businesses, 10+ museums)
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