Remarks

Discover this exceptional, income-generating property that offers both stability potential for growth. This meticulously updated mixed-use asset features two fully renovated residential units (side-by-side duplex) and three commercial garage spaces currently leased to a long-term tenant—all generating a total of $3,750 in monthly rent (well over 20% cash on cash)! Each residential unit has undergone a comprehensive renovation, including: Brand new flooring + fresh paint, Updated light fixtures and modern hardware, Refinished ceilings + complete kitchen + bath remodels, New furnaces + hot water tanks, Updated electrical panels, newer sump pump, Numerous newer windows and Newer Roof! Exterior highlights include durable vinyl siding, private entrances, + a partially fenced backyard. The property also boasts a large parking lot, w/two dedicated spaces per residential unit, and additional open land at the rear offering added privacy—an ideal feature on a quiet dead-end street. Residential Unit B includes a refreshed basement with generous storage + is currently rented on a 1-year lease at $1,250/month starting May 15. Residential Unit A is rent-ready and currently vacant, offering the flexibility to place your own tenant. (A prospective tenant is already identified and ready to pay $1,000/mo. if the buyer chooses.) The commercial component consists of 3 garage bays (used as auto/mechanic shop) leased together at $1,500/month on a new five-year lease beginning June 1 with 3% annual increases. The garage also includes a private office, + the tenant—who has been occupying the space for over six years—has expressed interest in staying on as PM for just $200/month, representing approximately 5% of gross income. Each residential unit is separately metered, + property will be delivered Point-of-Sale Compliant! Zoned commercial. With proximity to parks, major highways, healthcare facilities, retail, dining, + recreation, this is a highly desirable investment in a prime location!

Details

MLS#: 5122248
Price: $250,000

Style: multifamily
Bedrooms: 8
Baths Full: 2
Baths Half: 0
Sq Ft: 6600
Year Built: 1949

County: Cuyahoga County