Property Details:

• Property Type: Multi-Family
• Listing Type: Sale
• Year Built: 2023
• Building Size (SF): 80,377
• Square Feet Available: 80,377 SF
• Submarket: Beachwood/Mayfield/Cleveland Hts Area - NE-Z3
• County: Cuyahoga County

• General Information
  • Construction Status: Existing
  • Primary Use: Apartments
• Size & Area
  • Building SF: 80,377
  • Land Size (Acres): 1.56
• Height & Structural Specs
  • # Floors: 4
• Mechanical & HVAC
  • AC: Central
  • Heat: Gas
• Zoning & Development
  • Parcel Number: 120-31-084

Property Description:

Cushman & Wakefield | CRESCO Real Estate is pleased to present this Offering Memorandum for The Monroe, a 80-unit multifamily property located at 1862 East 123rd Street in Cleveland, Ohio. Situated in the heart of University Circle—Cleveland’s most vibrant and rapidly developing neighborhood—the property benefits from proximity to three of the region’s most powerful economic engines: the Cleveland Clinic Main Campus, University Hospitals, and Case Western Reserve University. These institutions not only anchor the area but also drive consistent, year-round rental demand from medical professionals, graduate students, and university staff. The Monroe offers a diverse unit mix featuring high-end finishes like granite countertops, stainless steel appliances, and in-unit laundry. As a newly constructed, turnkey asset, the property is positioned to capture premium demand in a high-barrier market. Its strategic location and institutional quality provide a clear path toward continued growth and operational stabilization.

More Information:

• 1862 E 123rd Street - Teaser.pdf

Listing Agents:

David Leb, CCIM

Max Ferguson

Brad Nosan