Dixon Hall Deal
Opportunity for 24 Unit Historic Property in Midtown Cleveland
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Download the pitch deck for the investment.
WHY?
Dixon Hall
The property was built in 1910 as a 24 unit apartment building. There is potential to add two units in the basement bringing the total to 26 units. There are currently 20 1 bedroom/ 1 bath and 4 2 bedroom/1 bath units. It is located in Midtown Cleveland within walking distance of Cleveland State University and the ongoing Campus District redevelopment. It is also only a 10 minute drive to Cleveland Clinic Main Campus and Case Western Reserve. The property has been self managed and rents are significantly below market rates. There are limited multifamily offerings in the 44115 zip code reinforcing the value of this well located asset. The asset also presents potential condominium conversion as well.
Want to learn more?
Schedule a call with our team at your convenience.
PROPERTY
HIGHLIGHTS
Description
Located in the Prospect Historic District this 4 story 1910 National Historic Registered building has 24 units with a courtyard area.
Unit Mix
The property offers a total of
24 units, containing 16% 2bedroom units, 74% 1bedroom. All units range from 650 to 1000 sq ft. There is an opportunity for 2 more units to be added in the basement.
Location
Property is located right outside of the Campus District, is walking distance to Cleveland State University and a 10 minute drive to Cleveland Clinic Main Campus, Case Western Reserve and University Hosptial.
Features
The complex has secure gated parking and a full laundry area as well as bike racks for tenants. There is a billboard on the corner of the property that also provides some income.
PROPERTY
HIGHLIGHTS
Description
Located in the Prospect Historic District this 4 story 1910 National Historic Registered building has 24 units with a courtyard area.
Unit Mix
The property offers a total of
24 units, containing 16% 2bedroom units, 74% 1bedroom. All units range from 650 to 1000 sq ft. There is an opportunity for 2 more units to be added in the basement.
Location
Property is located right outside of the Campus District, is walking distance to Cleveland State University and a 10 minute drive to Cleveland Clinic Main Campus, Case Western Reserve and University Hosptial
Features
The complex has secure gated parking and a full laundry area as well as bike racks for tenants. There is a billboard on the corner of the property that also provides some income.
INVESTMENT
OPPORTUNITY
Holding Period:
The anticipated holding period is 5 to 6 years, allowing for rent increases, 2 potential new unit build outs and the possibility to convert to condos as an option.
Capital Raise:
The General Partners seek to secure $828,000 in equity to complete the project, enabling the development to move forward successfully.
Financing Loan:
The General Partners plan to secure $1.207M in an acquisition loan. Loan terms 3yr Interest Only with a 5 yr term and 30 year amortization.
Minimum Investment:
The minimum investment required is $25,000 per LP interest, with the General Partner reserving the right to accept smaller subscriptions at their discretion.
INVESTMENT
OPPORTUNITY
Holding Period:
The anticipated holding period is 5 to 6 years, allowing for rent increases, 2 potential new unit build outs and the possibility to convert to condos as an option.
Capital Raise:
The General Partners seek to secure $828,000 in equity to complete the project, enabling the development to move forward successfully.
Construction Loan:
The General Partners plan to secure $1.207M in an acquisition loan. Loan terms 3yr Interest Only with a 5 yr term and 30 year amortization.
Minimum Investment:
The minimum investment required is $25,000 per LP interest, with the General Partner reserving the right to accept smaller subscriptions at their discretion.
BUSINESS PLAN
OVERVIEW
Business plan: unlock embedded value through operational improvements and rent optimization.
The property is currently at full occupancy with below-market rents, creating a clear path to increase net operating income through professional management, gradual rent alignment to market, and strategic execution.
Financial Strategy: Financed with a $1.207M loan and $828,000 capital raise.
Investor Returns: 8% preferred return for investors
Exit Strategy: Upon stabilization, the strategy includes the potential to refinance and return investor capital, or pursue a strategic sale to maximize overall returns
Want to learn more?
Schedule a call with our team at your
convenience.
RETURN
STRUCTURE
LP preferred return options:
$25,000 - $100,000 investment - 8% preferred return
LP Profit splits: Limited partners will receive 80% of the profits and cash distributions.
5 to 6 year investment timeline
RETURN
STRUCTURE
LP preferred return options:
$25,000 - $100,000 investment - 8% preferred return
LP Profit splits: Limited partners will receive 80% of the profits and cash distributions.
5 to 6 year investment timeline
READY TO
GET STARTED?
Schedule a 1-on-1 call with a member of
our investor relations team to learn more.
Salmon Peak Capital is a multifamily investment firm led by a team of seasoned industry experts. We combine institutional rigor with entrepreneurial agility, consistently implementing cutting-edge strategies for every asset we acquire. Our mission is to elevate the living experience for residents in each community within our portfolio, while prioritizing capital preservation for our investors. This disciplined approach has led to exceptional, full-cycle investor returns, making Salmon Peak Capital a trusted partner for sophisticated investors seeking both stability and growth.
Company
Contact
Office:
3080 Tamiami Trl E Unit 301
Naples FL 34112
239.326.9484
© 2026 Salmon Peak Capital - Mailing: 3080 Tamiami Trl E Unit 301 Naples FL 34112
This material does not constitute an offer or a solicitation to purchase securities. An offer can only be made by the Private Placement Memorandum (PPM). This document or page is an informational summary of prospective investment opportunities only. The PPM and its exhibits contain complete information about the Property and the investment opportunity.
READY TO
GET STARTED?
Schedule a 1-on-1 call with a member of our investor relations team to learn more.