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Midtown Towers

Parma, OH

635 Units

Built in 1968

Value Add

Investment Highlights

  • Significant capital improvements: $2 Million ($3,000 per unit) over the past three years including roofs, asphalt, unit flooring, and HVAC
  • Organic rent growth: Midtown Towers current rents are $150 - $250 below market
  • Expense savings through water conservation
  • Dense, in-fill suburb with a population over 81,000.
  • One block from one of the region's largest business corridors (Rockside Road) with 4.9 million square feet of Office, 3.2 million square feet of Retail, 12 hotels, 35 restaurants, and a daytime population of over 77,000
  • Adjacent to shopping, dining, and two grocery stores

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