2865 Hampton Rd, Cleveland, OH 44120 | The Tudor Apartments at Hampton

**Justin Campbell**

216-801-3599
brandtechniquellc@gmail.com

2865 Hampton Rd.

$2,200,000

Cash Flowing Multifamily with Two Bedroom Upgrade Opportunity

Tudor Manor Apartments | 2865 Hampton Road, Cleveland, OH 44120

23-Unit Historic Multifamily Offering | Shaker Square District

Offering Summary
A rare opportunity to acquire one of Cleveland’s most architecturally distinctive multifamily assets—Tudor Manor Apartments, a 23-unit classic Renaissance-Gothic style apartment complex located just steps from Shaker Square. Spanning four connected Tudor-style manor buildings, this asset offers spacious, character-rich units (600–1,300 SF each) with high ceilings, arched entries, and the timeless craftsmanship that defines Shaker architecture.

Property Highlights

23 total units across four buildings | mix of large one- and two-bedroom layouts
Significant value-add potential — approximately 13–14 units can be converted into true two-bedrooms by adding a simple doorway (“man door”), raising achievable rents from $925 → $1,150–$1,300
Fully tenanted with a mix of market and subsidized (EDEN/CMHA) units, providing stable income and low vacancy
Proximity: 10 minutes from Cleveland Clinic Main Campus, University Hospitals, Case Western Reserve University, and the Health-Tech Corridor
Average in-place rent: $875 | Market rent: $1,150–$1,300

Financial Summary

Purchase Price: $2,125,000
In-Place NOI: ≈ $139,835
Pro Forma NOI: ≈ $461,306
Cap Rate: 7% In-Place | 23% Pro Forma
Annual Gross Income (Pro Forma): $577,476
Operating Expenses: $87,298 (including taxes, insurance, management, utilities, and maintenance)

Investment Highlights

Cleveland’s Multifamily Momentum

Cleveland continues to rank among the top-performing multifamily markets in the Midwest—offering the strongest rent-to-value ratios and one of the lowest entry costs nationwide.
Cap rates remain higher than national averages, while rental demand continues to rise as affordability pressures drive renters from coastal markets.
With interest rates trending downward, investors are returning to cash-flow positive B-class assets like Tudor Manor, offering both stability and appreciation potential.

Recession-Resilient Demand Drivers

Multifamily continues to demonstrate consistent occupancy across economic cycles, driven by essential housing demand and Cleveland’s growing healthcare and tech workforce.
Located near the Cleveland Innovation District, University Circle, and Van Aken District, Tudor Manor benefits from a steady, high-quality renter base of professionals, students, and healthcare employees.

Prime Shaker Square Location

Nestled in one of Cleveland’s most walkable and architecturally rich communities, adjacent to gourmet grocers, cafes, and boutique retail.
Minutes from rapid transit, parks, and cultural amenities, offering strong tenant retention and long-term rental upside.
Shaker Heights/Greater Shaker Square area is a model of stability, known for its active civic engagement, preservation of historic character, and proximity to major redevelopment corridors.

Why Invest Now

Tudor Manor offers investors the ideal combination of stability, architectural uniqueness, and scalable upside. With proven cash flow, modernized units, and clear paths to rent growth through minor floorplan conversions, this property positions an investor to capture exceptional yield in one of Cleveland’s most enduring submarkets.

Investment highlights

Cleveland’s Premier Economic Engine: The Health-Tech Corridor

10 minutes to Cleveland Clinic Main Campus, one of the largest and most advanced medical centers in the world, employing over 70,000 people and driving billions in regional GDP.
Minutes from University Hospitals, Case Western Reserve University, and the Cleveland Innovation District—a $3 billion+ investment cluster uniting healthcare, research, and biotech growth.
The Health-Tech Corridor and University Circle together represent the single most recession-resilient employment base in Northeast Ohio, with continuous expansion, new medical construction, and research grants flowing through 2033.
Tudor Manor sits perfectly positioned to capture high-stability tenant demand from doctors, nurses, students, and healthcare professionals seeking quality housing near these institutions.

Architectural Character + Value-Add Upside

Iconic Renaissance-Gothic Tudor architecture—a unique 23-unit collection of manor homes rarely available in the Cleveland-Shaker market.
13–14 units can be converted from 1BR to 2BR with minimal work (adding a “man door”), unlocking 25–35% rent growth and broader tenant appeal.
Large, distinctive floorplans (600–1,300 SF) foster tenant retention and command premium rents within the Shaker Square submarket.
Blend of market-rate and subsidized units (CMHA/EDEN) ensures dependable occupancy and consistent monthly income.

Strong Income Profile

In-Place NOI: ≈ $139,835 | Pro-Forma NOI: ≈ $461,306
Cap Rate: 7% In-Place | 23% Pro-Forma
Pro-Forma Gross Income: $577,476 | Expenses ≈ $87,298
Solid rent trajectory with average in-place rent of $875 vs. market of $1,150 – $1,300 per unit.

Prime Shaker Square / University Circle Location

Located in the historic Shaker Square district, one of Cleveland’s most architecturally rich, walkable, and desirable rental corridors.
Surrounded by coffee shops, boutique retail, parks, and rapid transit, with direct access to downtown Cleveland in 15 minutes.
Benefit from the spillover growth of the $1.3 B Cleveland Clinic expansion, Circle Square development ($417 M), and Bedrock’s $3.5 B Downtown Masterplan—all fueling population growth and rental demand within the University Circle–Shaker Heights axis.

Why It Matters

Cleveland’s University Circle corridor is among the highest-concentration employment zones in the Midwest and has proven to be one of the most insulated multifamily markets in the country. As interest rates decline and healthcare-driven rental demand continues to surge, Tudor Manor Apartments offers a rare opportunity to secure a historically significant, high-performing Cleveland asset with strong yield and tangible upside.