Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1962
Sq.Footage
N/A
100% occupied, cash flowing 12 unit complex with value-add upside! This newly updated 12 unit deal is perfect for the investor looking for solid, stable cash flow day 1, while still having easy value-add upside available through basic cosmetic updates and organic rent bumps! Currently 100% occupied, grossing $10,740 in rent per month, an investor will walk into nearly a 9.5% cap rate AS IS. Proforma, a savvy buyer will easily achieve $12,500+ per month in gross rent, with the ability to implement parking fees and on-site coin operated laundry for additional income! The unit mix is ideal - boasting (8) two bedroom units and (4) one bedroom units. (6) of the (12) total units have been totally remodeled including updated kitchens with granite countertops and new appliances, updated flooring including vinyl plank and new carpet, updated bathrooms with tiled shower surrounds and new vanities, as well as updated lighting throughout and completely refreshed common areas. In addition, there are a number of new furnaces and wall unit AC's that have been installed, as well as a new parking lot, painted and refreshed garages, two completely new roofs installed in 2025, new carpet, paint and lighting in the hallways, and new exterior entry doors, and new common how water tanks! Tenants are responsible for gas and electricity, while the owner pays water/sewer/trash and common area electricity and gas. A number of tenants are currently month to month as well, allowing a buyer to quickly start implementing their business plan.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Wall Unit(s)
-
Heating YN
YES
-
Heating
Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Assigned, Paved
-
Pool
No
Area & Lot
-
Lot Size(acres)
0.3671
-
Property Type
Commercial Sale
-
Property Sub Type
Apartment
Price
-
Sales Price
$879,900
-
Tax Amount
$18,145
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Cleveland Municipal - 1809
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
3
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Cuyahoga
Elementary School
Cleveland Municipal - 1809
Middle School
High School
Listing Courtesy of Tal Tamir , Russell Real Estate Services
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AGENT
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