$649,900 $4,324 est/mo Sourced by Back At You

2295 Warrensville Center Road,University Heights, OH 44118

University Heights OH, 44118

Share with a friend

Description

Introducing an 8-unit brick building investment opportunity nestled in the coveted heart of University Heights - a rare gem in an ideal, prime location. Boasting proximity to educational institutions like John Carroll University (2-minute drive) and Notre Dame College (5-minute drive), as well as quick access to major healthcare centers - a 15-minute drive to Cleveland Clinic Main Campus and a 13-minute drive to University Hospital Main Campus. This property is strategically positioned for success no matter which way you look! The building features (4) 2-bed / 1-bath units with a proforma rent of $1,200/month each and (4) 1-bed / 1-bath units with a proforma rent of $1,000/month each. Notably, 5 out of the 8 units have already been updated with new paint, vinyl flooring, and some kitchen and bathroom enhancements. Convenience is key, with on-site coin-operated laundry and 8 covered garage spots (currently not being charged for) - with potential conservative estimates of $50/unit/month for parking. Each unit is equipped with individual furnaces and hot water tanks, placing utility costs on tenants for electric and gas. The owner's responsibilities include water/sewer and snow removal. Unlock the investment's upside by increasing rents to market rates or targeting the student and medical professional rental markets, possibly through room-sharing arrangements. Don't miss this exceptional opportunity to invest in a well-located property with immediate income potential and room for future growth. See offering memorandum for additional details.

Details

MLS#5017120
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusPending
Year1952
Days On Site157
Listing Provided ByRussell Real Estate Services | Tal Tamir
Buying Commision3/2

Features

Story(s)2
Units8
Building(s)1
Acreage0.48

Market Activity 44118

The information is being provided by MLS Now Independence OH. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 MLS Now Independence OH. All Rights Reserved.

Request a showing

Request a showing

Loading Form
Listings Checked: 5 minutes ago
StateOH
CountyCuyahoga
CityUniversity Heights
Zip Code44118
Listing VS Median (in 44118)
Price:
$649,900
low | high
Med:
$235,000
100% of Average
On Site:
157
low | high
Med:
82.500000
100% of Average
Sourced by Back At You
Listing Updated: June 27, 2024 at 1:14:56 PM PDT