University Commons

1900 E 30th St, Cleveland, OH 44114
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Investment summary

Number of Units97

Occupancy90%

Year Built1945

Avg. Unit Size654

Avg. Rent/Unit$832

Avg. Rent/SF$1.27

Offering Memorandum & Deal Room

Executive summary

BWE Investment Sales LLC (BWE) is pleased to offer the exclusive opportunity to acquire University Commons Apartments. University Commons is located on East 30th between Chester and Euclid Avenue, just one minute from Cleveland State University and on the cusp of Midtown and Downtown. The apartment community is a perfect location for CSU and Tri-C students and faculty, or anyone working downtown. The great location makes it easy to get around quickly, with just a two-block walk to the CSU campus. Residents love the large, bright apartments with hardwood floors. Heated garage and surface parking are available. University Commons Apartments also offer key fob entry, making residents’ ease of use a top priority.

Bang Realty, Inc | License No. BRK.2009000214

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Investment highlights

Value Add Opportunity:

A significant portion of the units remain to be renovated, with only 9 out of 97 completed.

Compelling Basis:

Pricing guidance reflects an attractive proposition, standing at approximately 40% of recent submarket sales.

Other Income Upside:

Potential for additional income through rentable items like parking and storage, currently priced $100 below submarket comps.

Conveniently Located:

Ideally situated on the doorstep of both Midtown and Cleveland State University.

Below Market Rents:

Unlock the potential of a high-demand rental property with the opportunity to substantially increase revenue. One bedroom rents are currently $277 below market and two bedroom rents are $352 below the competitive set providing a clear path to boosting income.

Affordable Living:

Offers prospective residents downtown living at an affordable rate, complemented by a secure heated parking garage for added convenience.

Incredible amenities in a vibrant community.

Community Amenities

  • Package Concierge Service
  • Laundry Facilities
  • Controlled Access / Key Fob Entry
  • On-Site Maintenance & Property Manager
  • Charming Vintage Building
  • Elevator
  • And many more.

Apartment Amenities

  • Spacious Bedrooms
  • Ceiling Fans for Comfort
  • Cable Ready for Entertainment
  • Ample Storage Space
  • Tub/Shower Combination
  • Elegant Hardwood Floors & Vinyl Flooring
  • Any many more.

Exclusively listed by

Anthony DeMarco

SVP, Investment Sales