Listed by Tal Tamir of Russell Real Estate Services (tal@premierclevelandinvesting.com 216-870-8687)
Introducing a prime investment opportunity in the Cleveland rental market: a newly updated, 11-unit apartment building generating over $100K in annual gross rental income. This property, recently revitalized with extensive interior cosmetic renovations, is fully occupied and currently brings in $8500 per month. With a near 10% CAP rate as-is, there’s potential to further increase rental income upon lease renewals. The building features (4) 1-bedroom units and (7) 2-bedroom units, each with individual furnaces. Tenants cover their own electric and gas heating costs while the owner is responsible for water, sewer, and gas for the hot water heaters. This is a great chance to acquire a fully-occupied, cash-flowing, high-yield asset in a growing rental market.

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Based on information submitted to MLS Now as of November 2, 2024 3:58 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. Listing information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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