11-Unit Apartment Building for Sale (FSBO)

[Account Closed]

11-unit apartment building for sale in the Glenville area of Cleveland, OH. Each unit is a 1 bed/1 bath. The building has a new roof (2015), new boiler system (2016) and an in-house maintenance man. Currently 10 out of the 11 units are occupied. Seller Financing is available with a significant down payment. Financials Below:

GROSS INCOME: $4,245/month = $50,940/year

Taxes: $2,974/year

Insurance: $2,500/year

Utilities: $9,980/year (Gas, Electric, Water/Sewer, Trash)

Vacancy (8%): $4,075/year

Maintenance (8%): $4,075/year

Management (10%): $5,094/year

TOTAL EXPENSES: $28,698/year

NET INCOME: $22,242/year

PRICE: $109,900

CAP RATE: 20.2%

Owner is a licensed real estate agent.