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Fantastic opportunity for the savvy investor. Grab this 5 unit, fully rented apartment complex that yields a great return of roughly 10% cap. Each of the 5 units features 1 bedroom, living room, kitchen, and a full basement. They each have a front and back entrance with the exception of one unit. Parking is plentiful. They all pay roughly $1,400 per month rent, plus they pay an extra $200 each to cover utilities. Current seller pays all the utilities for the building. Gross income is roughly $96,000 per year, with expenses as follows: utilities $12,000. Maintenance $6,000. Insurance $5,000. Taxes $6,464 with a net of $66,536. Pictures of 4 of the units included in the listing. Unit 22 tenant is in his 16th month and would like to stay. #24 is approaching 4th year there. #26 just signed a 12 month lease. #28 is in their 3rd year. #30 is in their 7th month on a 12 month lease. There will one showing day, Monday, as to not bother the tenants too much. Electric panel boxes, HVAC and water tanks are similar in all units. One has a newer water tank.
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: The Agency Cleveland Northcoast
Agency Contact: mary.markulis@theagencyre.com, 330-618-2118
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