Stockbridge Apartments

3328 Euclid Ave, Cleveland, OH 44115

Overview

Stockbridge Apartments

Stockbridge Apartments consist of 77-unit, stunning suites.  Located on the RTA's Health Line, a walking distance to Cleveland State University, and minutes from downtown Cleveland, this 1912 vintage building is on its full-swing renovation.  

Click on the next tabs on how you can be part of this iconic investment! 

Community

Stockbridge Apartments

Stockbridge Apartments sits on just under an acre in the Midtown neighborhood of Cleveland, Ohio - minutes from the city’s Central Business District. Here, you can find world-class hospitals putting down roots next to legacy manufacturers, historic concert venues near leading architectural firms, and residential housing built to accommodate the talent driving the region’s economy. Cleveland State University lies directly north of Stockbridge and has more than 18,000 students enrolled.

Financial

Stockbridge Apartment

PROPERTY FINANCIALS

  1. Acquisition/Purchase Price:  $ 4,700,
  2. Capital Improvements: $ 939,500
  3. Closing Fees and Carrying Costs: $ 276,348
  4. All-In Costs: $ 5,915,848

STABILIZED PROJECTIONS* IN 48 MONTHS (*not guaranteed)

  1. Net Operating Income: $ 503,496
  2. Stabilized Cap Rate: 8.1%
  3. Stabilized Value @ 6.15 Cap: $ 8,055,942.97
  4. New Loan Amount @ 77.5% LTV: $ 6,041,957.23 @ 5% Refi Cap Rate 
  5. Equity Created: $ 2,013,985.74
  6. Cash-Out Refi Proceed: $ 120,839.14
  7. Annual Cash Flow After Debt Service: $ 392,296.81

 

 

 

Investment

Stockbridge Apartment

Investment Details:

  • Price per Share: $ 100,000
  • Shares Available: 25
  • Term: 48 Months Projected
    1. Exit Strategy: Projected Refinance within 48 months to pay back Investors and disburse Refi proceeds.
    2. Then Hold for 10+ years for Cash Flow and to build long term Equity. 

ROI

Return On Investment

Each Unit of $ 100,000 will yield the following approximate projections.  (Note: If an Investor brings in $300,000, they will simply receive 3 Units and 3 times the amount below:

  • 1. Earns $10,000 in interest per year. 
    • 10k (year 1) + 10k (year 2) + 10k (year 3) + 10l (year 4)
    • Taxed at sale at long-term capital gains rates.

Expected Return On Investment

  • $40,000 Preferred Return (10% Annualized Interest)
  • $x,xxxx Cash Flow in Year 4 (above pref & costs)
  • $2,289.20 Cash Out Refi Proceeds 
  • $34,539.20 Total ROI in 48 months. 
  • 10.21% Annualized ROI (Tax Advantaged) 
  • $34,237.76 Equity Retained
  • Total + $60,009.20 Total Return in 48 months
    • 18.77% Annualized ROI including Equity
    • Principal returned in approximately 48 months
    • Cash Flow + Principal Pay Down + Appreciation + Depreciation 
    • Highlly Taxed Advantaged 

Perpetual Equity

Earns 80% of Refi Proceeds

  • $2,289.20 Projected Cash-Out Refi Proceeds
  • Non-Taxable Loan Proceeds

Earns $1,920 per year in Cash Flow

  • * ($3,429.59 after Refi-IF-Interest Only Loan)
  • Taxed at earned Income rate offset by depreciation

Holds $25,470 in Equity at Refi

  • Increases annually with principal pay down appreciation
  • Taxed at Sale at Long-Term Capital Gain rate 

PROPERTY LOCATION

For Sale
Sold
Pending
Under Contract
Active Under Contract
Inactive
Coming Soon
Pocket Listing

Interested In Investing?

Text David Now to Secure Your Spot

To secure units:

David Dickson

Phone: 216-243-5283

David Dickson

David Dickson

Owner

Get to Know David Dickson

After 20+ successful years in sales, David found a tremendous passion for real estate through property redevelopment. This energy combined with a significant and continued education has allowed him to manage the company’s renovation division since 2012. The results on the community through these efforts blend well with his personal beliefs of positive impact. In 2021, David led the launch of the commercial investment division and has worked tirelessly to ensure success for the team. He enjoys time with his amazing bride and family along with some golf and running.
Wendy Poltorek Dickson

Wendy Poltorek Dickson

Owner, Real Estate Agent

Get to Know Wendy Dickson

Wendy has been an active real estate agent and team leader with Keller Williams Greater Metropolitan - The WLee Team since 2013 with a specialty in renovations and property analysis. Her background involves a heavy education in all that is Real Estate with her membership as a Fortune Builders student. FB is an educational system and family of students who are located around the country and Canada. Wendy and her husband David have been running CPD Homes since 2012. They have also been members of a national Commercial Mastermind with like-minded investors since 2021. In addition, Wendy is in a Cleveland-based band called Rockport, has released a CD in 2008, is a Reiki I and II Practitioner and Chopra Well-Being Coach. She and David live in a quiet suburb near the Metroparks with their dog Sammi.

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