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Four Bedroom House (ref. 41709446)
Date & Time Listed: 2025-05-01 10:08:29 (GMT)
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Ad Details:
Incredible opportunity in a great location in Cleveland! This large brick building has over 5,900 sqft in total. The property offers 2 retail storefronts
and 6 apartments! One of the storefronts is vacant and the other is renting for $300 per month and has been rented out for 10 years! The vacant
storefront is perfect for retail space such as a vape shop or cell phone business!
The building also has six fully rented residential apartments. 4 units are 1 bed apartments each rented for $650 each month, 2 tenants are private
and 2 tenants are EDEN. There are also 2 remaining 2 bedroom apartments, one rented privately for $750 each month and the other Section 8 for
$800 each month.
The electrical has been updated, completely rewired with a hardwired smoke detector and CO detector! There are new breaker panels in all units.
The windows have been updated as well. There are separate furnaces, electrical panels and hot water tanks for each unit and also rear parking.
Laundry hookups are on site, but laundry is not currently being provided. All lead reports are complete and available also whcih is a major benefit in
Cleveland right now, This is a fantastic turn key investment opportunity with finance akso available for non US residents.
Buckeye Shaker is seen as a very strong investment area in Cleveland, just 1 mile away you have the famous Shaker Square. The house is also just 1.4
miles to Larchmere Blvd which is host to a multitude of many quality cafe’s, restaurants, beauty salons, fashion shops and many small businesses.
This building is extremely well located. This property sits right on Buckeye Road, a major commercial corridor surrounded by shops, restaurants, and
daily foot traffic. It’s directly across the street from Huntington Bank, a restaurant, and several retail stores, making it a highly visible and desirable
location for both residential and commercial tenants.
Investment Calculations
Purchase price
$399,900
Gross annual rental income:
$56,700
Property running costs:(Tax, insurance and management costs)
$38,940
Net annual rental income:
$17,760
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
12%
Break even in
8.3 Years.
This property is a House for sale.
Other Details:
Number of Bedrooms: 4
Number of Bathrooms: 6
Price: 399,900.00 USD
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