CALLING ALL INVESTORS looking to expand their investment portfolio! If you are looking for a turnkey apartment complex then look no further! This property features 22 units (4 which are 1 bed/bath and 18 which are 2 bed/1bath.) All units are completely renovated, turnkey and are immediately ready for tenants! This building is currently being used as a sober living facility so it does not have any running financials records for rents. Current comparable apartment rents in the area range from 1,000-1,200 a unit. Proforma gross income can be projected at a conservative amount of $26,000. This would put your gross rental income at $312,000 a year, which gives you a 15.6% cap rate before expenses! This will not last long! It's in close proximity to RTA transportation, freeway access, restaurants, hospitals, the Cleveland Heights community center, and is close to downtown Cleveland! Do not miss this opportunity today! Schedule your showing!

Listing courtesy of Morgan McClain of Coldwell Banker Schmidt Realty



The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged. Information Deemed Reliable But Not Guaranteed. Copyright 2024 - Multiple Listing Service, Inc. – All Rights Reserved.