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Multifamily

The Bingham

Cleveland, OH

339 Units

Built in 1915

Core Plus

Investment Highlights

  • 97% occupied! Led downtown buildings during covid occupancy recovery
  • Value-add opportunity, $75 to $300 premium for units with white cabinets, quartz countertops and/or stainless appliances (approximately 15%)
  • One block from the new $300m, 36-story Sherwin Williams world headquarters to be completed in 2024
  • Constantino's market: 1 of only 2 grocery stores in CBD is the street-level retail tenant; 17-year occupancy history
  • Rents average just $1.47/sf in a submarket where new product leases for $2.35/sf
  • All units feature granite or quartz countertops, black or stainless appliances, and in-suite washer/dryer

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