1560 Wagar RoadRocky River, OH 44116

1560 Wagar RoadRocky River, OH 44116

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$749,900 Active
Commercial - Business MLS 5194325 New to the Market

Listed By

Agency Name: Century 21 Wilbur Realty
Agency Contact: lmazzolac21@gmail.com, 216-323-7071

Shown By

Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575

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Property Description

Charming 4-Unit Investment Opportunity in Rocky River, Ohio Welcome to a fantastic multi-family investment in one of Northeast Ohio's most desirable suburban communities. This well maintained 4-unit apartment complex is perfectly situated near vibrant local amenities, strong schools, and easy access to major employment centers and I-90. Each of the four units offers: 2 bedrooms, 1 bathroom; spacious living areas and functional kitchens with in-unit laundry. Whether you're expanding your investment portfolio or looking for a stable cash-flow property, this 4-plex presents a solid opportunity with turnkey potential. Rocky River is a charming, affluent suburb located along the shores of Lake Erie, just west of Cleveland, known for its excellent public schools, welcoming and walkable neighborhoods and close proximity to beautiful riverfront parks, shopping, dining and cultural attractions. Beyond its current income stream, this property presents a compelling value-add or redevelopment opportunity. Preliminary concepts indicate the site may support up to 25 apartment units (approximately 20 two-bedroom units and 5 one-bedroom units).

1560 Wagar Road | MLS# 5194325

This commercial property located at 1560 Wagar Road, Rocky River, OH 44116 is currently listed for sale with an asking price of $749,900. Wagar Road is located within the Rocky River City school district. Search Rocky River real estate on 486royeravenuenw.cutlerhomes.com today.

Property Features

Property Type: Commercial - Business
Basement: None
Cooling: Wall/Window Unit(s)
Days on Market: 2
Heating: Forced Air
Lot Size: 0.34 Acres
Roof Type: Composition
Taxes: $13,168 / year
Year Built: 1956

Feature Descriptions

Building Features: Not Applicable
Fencing: None
Parcel#: 303-01-011
Parking: Additional Parking, Asphalt, Driveway, Detached, Garage, Garage Door Opener, Off Street
Sewer: Public Sewer
Water: Public

Local Schools

School District: Rocky River City

Demographics

Cuyahoga County Demographic Information for 1560 Wagar Road, Rocky River, OH 44116
Fips
Fips Code 39035
Population
2020 to 2023 Change down 2.5%
2010 Count 1,280,122
2020 Count 1,264,817
2023 Estimate (V2023) 1,233,088
2020 Estimate (V2023) 1,264,775
Age Distribution (Years Old)
0 to 4 5.3%
5 to 17 20.3%
18 to 64 54.8%
65 and Older 19.6%
Gender
Male 48.1%
Female 51.9%
Place of Birth
Foreign 7.6%
US 92.4%
Education
High School Graduate, Age 25+ 90.9%
Bachelor's Degree or Higher, Age 25+ 35.2%
Computer and Internet use
Households with a computer 92.0%
Households with a broadband Internet subscription 85.7%
Language
English is Second Language, Age 5+ 12.3%
English is First Language, Age 5+ 87.7%
Veterans
Veterans 60,427
Income
Per Capita Income $39,807
Median Household Income $60,074
People in Poverty 16.6%
Commute
Average Work Commute Time 24 minutes
Housing
Total Housing Units 615,116
Households 552,421
Average Household Size 2.23
Owner-Occupied 58.4%
Multi-Family 34.9%
Owner-Occupied Median Value $168,700
Median selected monthly owner costs -with a mortgage $1,472
Median selected monthly owner costs -without a mortgage $630
Median gross rent $952
Building Permits
New Private Housing Issued 2023 1,028
Years at Residence
1 Year or More 86.1%
Less Than 1 Year 13.9%
Business and Employment
Private non-farm Establishments 31,738
Private non-farm Employment 631,443
Private non-farm Employment Growth up 0.7%
Nonemployer Establishments 105,877
Number of Firms 114,192
Business Production
Value of Shipments $23,225,392,000
Wholesale Trade $24,854,217,000
Retail Trade $16,920,714,000
Retail Sales Per Capita $11,914
Accommodation and Food Services $3,332,698,000
Land
Land Area 457.19 sq. miles
Population Per Square Mile 2,800

Source: US Census Bureau