Remarks

INCREDIBLE INVESTMENT OPPORTUNITY. According to CMHA 2025 rental rates, this property would bring in 155k a year! In the 44118 Cleveland Heights Zip Code (ask agent for document on updated rental rates) this is the one to snag. Beautiful brick 7 unit building. Four, very large 3 bedroom units projected to bring in up to $8,488 each a month, two very large two bedroom units to bring in $3,288 a month and a large studio in the basement to bring in $1,200 a month= up to $12,976 a month/155k a year. Some units occupied, however, with taking advantage of the CMHA guaranteed income with the updated rents, would be best to stabilize on own. Talk about profit.. Updated most units, newer hot water tanks. Each unit has it's own furnace and H20 tank/separate electric and gas meters. Basement has coin laundry and newer PEX plumbing has been installed. Each unit has separate front/back door and there is a parking lot out back. Close to Coventry Village, Severance center, University Circle and just a 10 min drive to Cleveland Clinic Main Campus. Location, location plus immense cash flow. Call your agent today!

Details

MLS#: 5132087
Price: $699,900

Style: CommercialSale
Baths Half: 0
Sq Ft: 0
Year Built: 1922

County: Cuyahoga
Subdivision: Coventry Mayfield Land Cos Su
Tax Fee: 13365