This is an 11 unit building, it is in very good shape. The flat roof and the basement are not leaking, Most of the tenants are Eden ( similar to sec 8) which means a large part of the rents will be guaranteed and above-market rents. There are multiple long term tenants 07-13 yrs.
This property is located in the wonderful Cleveland Hts. subburb near Coventry, University Circle, Case Western University, Mayfield rd.. Cumberland Park, Cain Park summer events are held here, art show, concerts, tennis, basketball. etc. & 15 min from downtown.
- Asking price: .$575K
- Annual Gross Profits: $103k
- Annual Net Profits: $60k
- EMD : $55K
- Annual Taxes: $15,545.48
- P/L Sheet
- Rent Roll
- 2021 Maintenence Schedule
- Owner pays Water/ Sewer: $7500 annually
- Boiler: Original unit, with a new block…cost $10K
- Roof: Needs a patch, the seller will have it done in the summer or compensate in the price,
- There is a space for a laundry room.
Ps, Before any documents or any inspections are shown or scheduled you must show the ability to close this loan.