Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

    N/A

  • Heating YN

    YES

  • Heating

    Natural Gas, Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    On Site, Paved

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.287

  • Property Type

    Commercial Sale

  • Property Sub Type

    Apartment

Price

  • Sales Price

    $409,000

  • Tax Amount

    8335.0

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    Maple Heights CSD - 1818

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Foundation Details

    Slab

  • Sewer

    Public Sewer

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Location

County

Cuyahoga

Elementary School

Maple Heights CSD - 1818

Middle School

High School

Listing Courtesy of Tal Tamir , Russell Real Estate Services

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Opportunity to purchase a solid, occupied and cash flowing 7 unit property with huge upside! This brick apartment building is perfect for the new or savvy investor, as the property is currently occupied and well maintained while providing an investor with the opportunity to increase rental rates to market or take advantage of the competitive section 8 rates in the area. Already grossing $4,900 per month, a buyer can walk into consistent cash flow and cosmetically update the units over time to achieve rent premiums. On average, the current rates are $150+ under market rent in the area. On pro forma numbers, this property should easily gross over $6,200 per month! 

The property has a desirable unit mix of (3) one bed, one bath units and (4) two bed, one bath units. The units have been well maintained and updated as necessary when tenants turn over. The property also had a new flat roof done in 2016, all windows replaced with vinyl windows, has (7) covered garage spots (currently not being charged for), and (3) new hot water tanks recently installed. The parking lot will likely need to be resurfaced, but as a whole the property has been fantastically well maintained and looked after. Property also includes onsite laundry for tenants. 

Owner pays water/sewer, trash, common area electricity and gas for the hot water tank that's used for laundry. Tenants pay their owner gas and electricity.

15911 Maple Heights Boulevard

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This property has two store fronts and a three bedroom vinyl sided colonial house with formal dining, large eat-in kitchen, great room with fireplace each unit has its separate basements, all on the same lot, 2 car garage 50X175 feet deep lot. Previous use has been barber shop, beauty solon, and daycare, ideal opportunity to provide business and living quarters all in one. Triple net lease turnkey ready.
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None Baths

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MLS#: 5141176

 - property

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