Average square foot calculated using Size range provided by listing agent.
Description
Incredible opportunity to purchase a four-unit property on the highly sought-after west side of Cleveland! This value-add investment features three 2-bedroom, 1-bath units (two of which are currently occupied at $550 and $650/month on month-to-month leases) and a one-bedroom, one-bath attic unit. The vacant 2-bedroom, one-bath unit is in the basement with a full kitchen and bathroom. Projected market rents are $1, 000/month for the two occupied 2-bedroom units, $800/month for the 1-bedroom and $850/month for the vacant 2-bedroom basement unit, bringing the total projected gross annual income to $43, 800. Cleveland’s rental market remains strong, driven by steady demand, affordable pricing, and reliable cash flow—making this an excellent market for investors. The property has three gas meters and three electric meters; the owner currently pays utilities for the basement unit. The City of Cleveland Lead Inspection is in process for renewal, with no anticipated issues, giving new ownership a clear path to lead-free certification at closing. A rare chance to secure a high-yield, easy-to-manage multifamily asset in a growing market! *Note: Owner states that there are 4 units with 7 bedrooms and 4 bathrooms but the county auditor's website states that there are 2 units with 5 bedrooms and 3 bathrooms.Show Description
MLS® Number5130342
Laundry Level
Central VacNo
FireplaceNo
Acreage0.1053
Exterior
GarageNo
Approx. Age1910
BasementFinished
DrivewayOn Site, Off Street, Paved
Garage Spaces
HeatForced Air
A/CNone
Heating Fuel
Extras
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