BELVOIR CENTER / 76 UNITS
STONEYBROOK / 54 UNITS
76 UNITS | BUILT 1962
54 UNITS | BUILT 1962
4095 Monticello Blvd / Cleveland Heights, OH 44121
21831 Libby Road / Bedford Heights, OH 44146
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Both Belvoir Center and Stoneybrook are well located in the metro Cleveland suburb of Euclid and Bedford Heights, OH. Close to great employment and lifestyle opportunities, both assets are poised for long term success.
1.6 miles to Amazon Fulfillment Center CLE2 - Stoneybrook
5.9 miles to Amazon Fulfillment Center CLE3 – Belvoir Center
6-10 miles to Cleveland Clinic and University Hospitals - University Heights and Beachwood
12-17 miles to Downtown Cleveland Ohio
20 miles to Cleveland Hopkins Airport (CLE)
Market Information
Stoneybrook Apartments is a 54-unit (Suite) property also built in 1962 and is located at 21831 Libby Rd. Bedford Heights, OH, 44146 off Northfield Road, on the northeast corner of Libby and Northfield roads, again two of the most traveled residential roads in this neighborhood as well. Stoneybrook sits on 2.28+ acres and offers 24 one-bedroom units measuring 755 square feet, 27 two-bedroom units measuring 900 square feet and three three-bedroom units measuring 1,000 square feet, with an average unit size of 841 square feet. The community is well maintained and provides residents with ample neighborhood conveniences including McDonalds, Family Dollar and Foot Locker to name a few.
According to CoStar, the property is located in the Bedford Heights Neighborhood on the east side of Metro Cleveland. Stoneybrook is located south of North Randall and Warrensville Heights to the north, and Maple Heights and Bedford Heights to the south. These four communities have a solid mix of both residential neighborhoods as well as a host of commercial and industrial industries providing both affordable housing and a number of employment alternatives. The property is 1.6 miles south and just minutes from Amazon’s fulfillment center located in North Randall, Ohio. This fulfillment center has over 2,000 employees in its current workforce offering jobs in the $15 - $20 per hour range, a perfect base of residents for Stoneybrook’s rental rates.
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Portfolio Summary
Portfolio Highlights
LIMITED TO NEW SUPPLY MARKETS AND BELOW REPLACEMENT COST
Total new construction, land value, and ancillary costs average more than $170,000 per unit. Market shortages of new construction provide substantial opportunity for renovations and additional unit interior upgrades.
STRONG RENTAL MARKETS
Close to the Cleveland Hopkins Airport, numerous Hospital systems and two of Cleveland most active Amazon Fulfillment centers.
NEW FINANCING OPPORTUNITY
Both properties will be delivered “free and clear” providing an outstanding opportunity for investors to obtain maximum financial leverage and current interest rates insuring strong cash-on-cash returns.
PROXIMITY TO MAJOR EMPLOYERS
Close to Amazon’s Fulfillment and Logistic centers in Euclid as well as Cleveland Clinic’s Main and Euclid Campus and University Hospital’s Beachwood campus
LOCATION
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Southfield, MI 48034
Phone: 248.646.7701
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CONTACT Info
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Mortgage Bankers
DANIEL GEUTHER
Managing Director 216.621.8289 daniel.geuther@berkadia.com
ERIC BEVILACQUA
Associate Director
216.621.9001 eric.bevilacqua@berkadia.com
Rick Brace
Senior Director
248.341.3319
rick.brace@berkadia.com
Conor David
Director
614.796.0222
conor.david@berkadia.com
Mike MCclafferty
Associate Director
215.328.1298
mike.mcclafferty@berkadia.com
Charley Henneghan
Director
248.341.3303
charley.henneghan@berkadia.com
Kevin Dillon
Senior Managing Director
248.341.3309
kevin.dillon@berkadia.com
Corey Krug
Senior Director
248.341.3338
corey.krug@berkadia.com
Jason Krug
Senior Managing Director
248.341.3344
jason.krug@berkadia.com
PROPERTY FEATURES
Central Air Conditioning
Updated Kitchen
Oven / Stove (Gas)
Eat-In Kitchen
Newer Carpeting*
*In Select Units
Amenities
1962
Built
4
Buildings
76
Units
4095 Monticello Blvd Cleveland Heights, OH 44121
Belvoir Center
STONEYBROOK
BELVOIR CENTER
Belvoir Center
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The Properties
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Laminate Floors*
Walk-In Closets
Extra Storage Available
Laundry Facilities
Picnic Area
Elevator
Stoneybrook
Belvoir Center Apartments is a 76-unit (Suite) property built in 1962 and is located at 4095 Monticello Blvd, Cleveland Heights, OH 44121 on the corner of Monticello and Belvoir Boulevards, two of the most traveled residential roads in the neighborhood. Belvoir Center sits on 4.65+ acres and offers 25 one-bedroom units from 704-725 square feet, and 51 one-bedroom units measuring 946 square feet, with an average unit size of 826 square feet. The community is well maintained and provides residents with ample neighborhood conveniences including Family Dollar Sav-A-Lot, Walmart, Beachwood Place, and Legacy Village.
According to CoStar, the property is located in the Monticello-Noble Neighborhood of the East Cleveland Submarket of Metro Cleveland. Belvoir Center is surrounded by the bedroom communities of Euclid-Green and Richmond Heights to the north, and Cleveland Heights and South Euclid to the south. Each of these four communities have been the bedrock of this residential neighborhood living for decades and continues to provide affordable housing alternatives. The property is just minutes from Amazon’s fulfillment and Logistics centers located in Euclid, Ohio. This fulfillment center (which opened in 2019) has a workforce of over 2,000 employees and encompasses over 1,700,000 square-foot supplanting the building area of the former Euclid Square Mall. The Euclid facility is the first Amazon facility in the U.S. to eliminate plastic delivery packaging.
Belvoir Center
16.34
Density
873
Average SF
4.65
Site Size / Acreage
3
stories
66,371
SF
Acres
Units / Acre
Air Conditioning and Heating
Refrigerator
Oven / Stove
Ceiling Fans
Walk-In Closets
Balcony
Hardwood Flooring
Laundry Facilities
*In Select Units
Amenities
1962
Built
3
Buildings
3
stories
54
Units
24
Units / Acre
Density
45,420
SF
841
Average SF
2.28
Acres
Site Size / Acreage
21831 Libby Rd Bedford Heights, OH 44146
Stoneybrook
Stoneybrook
The Cleveland 2 Portfolio
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CONTACT
DOCUMENT CENTER
Rick Vidrio
Managing Director
248.341.3325 rick.vidrio@berkadia.com
Rob Starrett
Managing Director 216.367.2102 rob.starrett@berkadia.com
6555 Longshore Street Suite 280 Dublin, OH 43017
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