7,553 Sqft Lot
7,553 Sqft Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Euclid Heights
MLS Listing ID 5050612
HOA Y/N No
Year Built 1920
Annual Tax Amount $20,672
Tax Year 2023
Lot Size 7,553 Sqft
Acres 0.1734
Property Description
Fully occupied, this property currently generates $9,990 per month, with a proforma potential of $11,050 per month. The extremely large units feature beautiful hardwood floors throughout, spacious kitchens with peninsula islands, and the convenience of in-suite laundry—an amenity highly sought after by tenants. Some units have already been updated with refinished hardwood floors, modern paint, and upgraded bathrooms and kitchens.
To achieve the proforma numbers, all a new owner needs to do are some cosmetic upgrades to one unit and raise the rents on lease renewals for the remaining units. Each unit has separate electric meters, with tenants responsible for their own electric bills, while the boiler and water/sewer is paid by the owner. Additionally, the property includes five garage spaces, providing secure and convenient parking for tenants.
Take advantage of this opportunity to invest in one of Cleveland's most dynamic neighborhoods, with immediate income and additional upside potential!
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Hot Water, Steam
Cooling None
Fireplace No
Exterior
Water Access Desc Public
Roof Type Composition,Flat
Present Use Residential
Building
Story 3
Sewer Public Sewer
Water Public
Schools
School District Cleveland Hts-Univer - 1810
Others
Tax ID 685-05-002
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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