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$1,670,000
Est. payment /mo
0.38 Acres Lot
UPDATED:
01/29/2025 03:59 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 5095310
HOA Y/N No
Year Built 1930
Annual Tax Amount $40,591
Tax Year 2024
Contingent Appraisal,Inspections
Lot Size 0.384 Acres
Acres 0.384
Property Sub-Type Apartment
Property Description
This 19-unit brick building in Cleveland Heights offers an excellent investment opportunity, featuring 16 one-bedroom units and 3 two-bedroom units in a fully secured building. Recent upgrades make this property turn-key and ready for new ownership. The building boasts a brand new boiler with a 10-year warranty, secondary heat sources installed in each unit, updated main and unit electrical panels. Additional revenue comes from a secure detached parking garage and a coin-operated laundry facility, adding to its appeal. A new intercom system enhances tenant safety, and the property is point of sale compliant, requiring no further work before transfer. With many units updated and significant capital improvements already completed, this building provides a low-maintenance, high-potential investment in a desirable Cleveland Heights location. Ideal for investors looking to expand their portfolio and add value with increasing rents up to market. This property is positioned for strong returns and consistent cash flow. Don't miss this opportunity!
Location
State OH
County Cuyahoga
Interior
Heating Dual System, Electric, Radiator(s)
Cooling None
Fireplace No
Exterior
Parking Features Assigned, Garage, On Street
Water Access Desc Public
Total Parking Spaces 15
Building
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Hts-Univer - 1810
Others
Tax ID 687-02-028
Special Listing Condition Standard
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Listed by Charles Lewis • Home Equity Realty Group • charles.lewis@heqrealty.com 440-539-4864