Tremont Trails Luxury Apartments

Tremont Trails Luxury Apartments is located in Cleveland's Tremont neighborhood, an area offering a blend of historic architecture, vibrant culture, and modern amenities. Residents of Tremont Trails Luxury Apartments will find themselves surrounded by locally-owned shops, restaurants, and entertainment venues. The area boasts proximity to popular attractions such as Lincoln Park, with picturesque views of the city skyline. With its multifamily-friendly atmosphere, easy access to Cleveland's CBD and diverse range of outdoor recreational activities, investors and residents will appreciate the appeal of this thriving, urban community.Tremont Trails Luxury Apartments offers a prime investment opportunity in Cleveland's thriving multifamily market. The property was built in 2021 and is zoned for 7 units, ideally positioned for an investor seeking a trophy property in a premier location. Benefitting from a 15 year tax abatement, this low-rise gem is located in the coveted Tremont neighborhood, offering close proximity to downtown Cleveland. Zoned as Apartments 7-19 Walkup, the property presents a compelling prospect for investors looking to capitalize on the robust demand for modern, multifamily residences in this sought-after area. Six units are built out and occupied. The seventh unit is a blank slate that has the potential to become a large three bedroom, two bathroom apartment. A designed floorplan is included later in the Offering Memorandum. Estimated rent for the three bedroom is $2,850. The residential tax abatement began January, 2021, and runs for 15 years, expiring on December 31, 2035. The tax abatement is approved for 100% of the assessed taxes for the rehabilitation costs for a term of 15 years following the effective date.