5917 Storer Avenue , Cleveland, OH 44102
Cleveland, OH 44102
Description
Discover this 7-unit brick building located on the desirable westside of Cleveland. The property boasts a mix of updated units featuring modern vinyl flooring, fresh paint, and various cosmetic enhancements. This building includes five spacious 2-bedroom units, one cozy 1-bedroom unit, and one studio apartment. Each unit is equipped with separate furnaces and hot water tanks, ensuring tenants are responsible for their own electric and gas, reducing your overhead costs. With all seven units currently rented, the building is already generating great income! This property offers great current earnings with an impressive proforma. By implementing minor rent increases, you can easily elevate the property to achieve a 10% cap rate. As it stands, the building will operates at over a 9% cap rate, presenting an attractive return on investment. Seize the opportunity to invest in a property that not only provides immediate income but also holds significant potential for future value enhancement.
Details
| MLS# | 5045202 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1910 |
| Days On Site | 102 |
| Listing Provided By | Russell Real Estate Services | Tal Tamir |
Features
| SQ Feet | 5,597 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Units | 7 |
| Building(s) | 1 |
| Acreage | 0.12 |
Market Activity 44102
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Learn More About This Property
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Cleveland |
| Zip Code | 44102 |
| Community Name | Daniel Hoyts Re Allotment |
| Listing VS Median (in Daniel Hoyts Re Allotment) | |
Price: $444,900 low | high Med: $444,900 SqFt: 5,597 low | high Med: 5,597 $ / SqFt: $79 low | high Med: $79 On Site: 102 low | high Med: 102.000000 | |