The Athlon Apartments
Investment summary
Units163
Year Built2019
Total Rentable SF128,949 SF
Avg Unit Size791
Avg Market Rent/Unit$1,685
Avg Market Rent/SF$2.13
Occupancy92%
Executive summary
BWE Investment Sales is pleased to announce the exclusive listing of The Athlon, a luxury 163-unit, high-rise apartment community located in the historic Cleveland Athletic Club Building and situated in the heart of Downtown Cleveland, OH. The Athlon offers a variety of one- and two-bedroom floor plans, featuring plush carpeting, vinyl flooring, stainless steel appliances, large walk-in closets and showers, and beautiful views of downtown. Community amenities include a 20-meter indoor pool, a state-of-the-art fitness center, a spa, and a rooftop terrace.
The Athlon is conveniently situated in Downtown Cleveland, providing residents with easy access to plethora of shopping, dining, employment, higher education, and entertainment options for all ages. The apartment community is adjacent to Playhouse Square, the largest performing arts center in the US, outside of New York City’s Lincoln Center. Playhouse Square welcomes over 1 million visitors annually. Just around the corner from The Athlon, the new Sherwin Williams HQ building has almost completed construction, which is expected to bring many jobs to the city.
Bang Realty, Inc | License No. BRK.2009000214
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Investment highlights
Strong Market Position
Achieving 92% physical occupancy, The Athlon has showcased resiliency in the market and offers potential for organic rent growth with new product in the market.
Luxury Living
Features high-end luxury finishes and best-in-class construction, positioning it as a premier residential option in a prime location.
Premium Amenity Package
Residents enjoy a 20-meter indoor pool, state-of-the-art fitness center, spa, rooftop terrace, and indoor parking garage, providing a comprehensive luxury lifestyle.
Cultural, Educational And Retail Access
Located next to Playhouse Square, the second-largest performing arts center in the U.S. with over 1 million annual visitors, this location offers exceptional cultural and entertainment appeal. It also provides easy access to Cleveland State University and the state-of-the-art Heinen’s grocery store right next door.
Attractive Entry Point
Offered significantly below replacement and original construction cost, mitigating risk associated with increased development costs and market volatility. Strategically positioned for long-term appreciation while providing immediate value.
Economic Growth Potential
Near the upcoming Sherwin Williams World HQ, opening in 2025, expected to bring over 4,000 jobs to the downtown core, boosting local demand for housing.
Tax Advantages
Benefit from 11 years remaining on tax abatement from its 2019 construction.
Revenue Expansion Opportunities
Potential to convert the 7th floor ballroom into event or office space, add residential units, or expand the parking garage for additional revenue streams.
Amenities
Community
- 20-Meter Indoor Pool
- State-of-the-art Fitness Center
- Rooftop Terrace
- Indoor Parking Garage
- Located next to Playhouse Square
- Easy Access to Cleveland State University
- Heinen's grocery story right next door
Apartment
- Plush Carpeting in Bedrooms
- Beautiful Views of Downtown Cleveland
- Walk-In Closets & Showers
- Open Concept Floor Plans
- Window Coverings
- Large Bedrooms
- High Speed Internet Access
- In-Suite Washer & Dryer
- Heating & Air Conditioning
- Stainless Steel Appliances
Exclusively listed by
Anthony DeMarco
SVP, Investment Sales