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Incredible opportunity to purchase a four-unit property on the highly sought-after west side of Cleveland! This value-add investment features two two-bedroom, one-bath units (both currently occupied at $550 and $650/month on month-to-month leases), a one-bedroom, one-bath attic unit, and a two-bedroom, one-bath basement unit with a full kitchen and bathroom. Projected market rents are $1,000/month for the two-bedroom units, $800/month for the one-bedroom attic and $850 per month for the basement, bringing the total projected gross annual income to $43,800. Cleveland's rental market remains strong, driven by steady demand, affordable pricing, and reliable cash flow?making this an excellent market for investors. The property has three gas meters and three electric meters; the owner currently pays utilities for the basement unit. The City of Cleveland Lead Inspection is in process for renewal, with no anticipated issues, giving new ownership a clear path to lead-free certification at closing. A rare chance to secure an easy-to-manage multifamily asset with strong upside in a growing market! *Note: Owner states that there are 4 units with 7 bedrooms and 4 bathrooms but the county auditor's website states that there are 2 units with 5 bedrooms and 3 bathrooms.
Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.
Listed By
Agency Name: Russell Real Estate Services
Agency Contact: tal@premierclevelandinvesting.com, 216-870-8687