Prime Location 

The Perch on Lake boasts an enviable location, offering residents all that Lake Erie has to offer, including unobstructed lake views. The property is just 12 minutes from Downtown Lorain, which is undergoing major revitalization, and a 30-minute drive to downtown Cleveland, providing the perfect blend of lake and city life. Additionally, residents have easy access to Crocker Park, Costco, Target, Walmart, and many other national retailers within a 15-minute drive.

Modern Features and Amenities 

The Perch on Lake combines impressive amenities and features with its unbeatable location and views. The property boasts a sauna, pool, lakeside boardwalk, fishing pier, tennis/pickleball court, covered parking, business center, and fitness center. With its unique amenities and diverse unit mix of studios, one-bedroom, and two-bedroom units, and three-bedroom units, the property offers an excellent community for a wide range of lifestyles, from young professionals to families.

High Demand Property with Compelling Value-Add Opportunity

The Perch on Lake is a highly desirable apartment community, as evidenced by its high occupancy and exceptional tenant retention rate. Additionally, current ownership has implemented a successful interior renovation strategy that has demonstrated impressive returns. Residents living in renovated units enjoy new flooring throughout and modern finishes that include updated cabinetry, granite countertops and stainless- steel appliances. New ownership has the opportunity to continue this strategy and significantly enhance the asset’s performance.