Four-unit investment property on Cleveland's west side offered at just $49,750/door, currently generating $17,815 in annual NOI at an 8.95% cap rate. Three of the four units are now occupied, including the basement unit recently leased at $700/month, leaving just the top unit to fill and meaningful upside as it leases. Built in 1910, this well-constructed multi-family sits in the 44102 zip code with easy access to I-90, I-71, and I-480, making it a consistently rentable location for Cleveland's west-side workforce. The proforma tells the better story: fully leased at market rents, NOI climbs to $24,900 and the cap rate reaches 12.51%. Go-and-show for qualified buyers.
402 days
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292
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18
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Zillow last checked:
Listing updated:
Listed by:
Tal Tamir216-870-8687tal@premierclevelandinvesting.com,
Russell Real Estate Services
Source: MLS Now,MLS#: 5130342Originating MLS: Akron Cleveland Association of REALTORS
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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