Wow more luxury apartments that will be $2,000 a month in Beachwood Ohio. The luxury property trend in the Cleveland Metro area is taking hold. I found this story at http://www.cleveland.com/ by Bob Sandrick, Northeast Ohio Media Group .
This new project will have all the amenities according to this story.
” Amenities would include a heated pool, fire pits, a dog park, pet spa, a state-of-the-art exercise center, library, coffee and espresso bar and barbecue cabanas with TVs. Apartments will contain stainless-steel fixtures, washers and dryers, 9-foot-high ceilings, walk-in closets and heated bathroom floors.”
” Langdon said Covington wants more single-bedroom apartments because Vanguard Beachwood would attract young professionals working for new, large companies in the city. He said The Vue, a high-end apartment complex that opened in January on Chagrin Boulevard in Beachwood, has seen single-bed apartments fill faster than other units.”
This is a great sign that the professionals that move here without family will want these types of Luxury Apartments. Professionals with families will probably prefer the surround areas that have all the needs they want. That is where I think investors can build a great luxury income property portfolio.
Luxury income properties are affordable and can really get you a very consistent income while growing your equity position.
Getting $2,000 dollars for an apartment will only help the rental income in the income luxury home market. Watch this blog for some great Luxury income property deals that are in the Cleveland metro Area. Brett Young Coldwell Banker 216-703-5740