8201 Madison Avenue, Cleveland, OH$430,000
Molly Morgan
Phone: (614) 560-6655
Fax: (614) 678-5505
Cell: (614) 560-6655
molly@e-merge.com
Listing Provided By:
Tal Tamir of Russell Real Estate Services
Fax: (614) 678-5505
Cell: (614) 560-6655
molly@e-merge.com
Listing Provided By:Tal Tamir of Russell Real Estate Services
MLS#:
5031904
Year:
1918
SQ Feet:
8,160
Acreage:
0.16
Acreage:
Units:
6
Zoning:
Introducing a promising investment opportunity in the up-and-coming "West 80’s" neighborhood, adjacent to Edgewater in Detroit Shoreway on Cleveland's west side! This all-brick 6-unit property offers individual furnaces and hot water tanks, along with updated electrical panels for added convenience and efficiency. Currently, two units await light turns to make them rent-ready, mainly requiring flooring and minor touch-ups. With four units already occupied, the property collects a total gross monthly rent of $3,190. However, upon full occupancy at market rents, the potential monthly income could soar to $6,000. Each unit features a comfortable 2-bed/1-bath layout, ensuring broad appeal to prospective tenants. Notable updates include the replacement of all six water tanks within the last five years and the recent replacement of two furnaces, with the remaining four furnaces in satisfactory working condition. Don't miss the chance to capitalize on this opportunity in a neighborhood on the rise, offering both immediate returns and long-term potential for growth!
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