8unit Apartment - $315000. 90% occupied. Bring in $4000/month

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8unit Apartment - $315000. 90% occupied. Bring in $4000/month

Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes

Go big or go home is the MOTTO here. Proud to present to you MY PERSONAL apartment building.

I've fixed this up and it's now ready for the next investor. PURE TURN KEY at it's finest 

Highlights

New roof installed September 2015. Transferrable warranty for 10yrs on Labor from Roof Recovery Systems

5 new water tanks installed in last 12months

1 new furnace installed Feb 2016

All individually metered Gas and Electricity. Each unit has individual water tanks and furnace

All breaker boxes inside units

All come with appliances; fridge and range. Mixture of Old and New

Completely rehabbed unit #1 in April 2016

Hall way was repainted May 2015

All exterior brick and sandstone was given freshly painted June 2016

Units #3 and 4 freshly repainted

Rent Rolls

#1 $525/month. Lease expires May 2017

#2 $500/month. Lease expires 1st March 2017

#3 $500/month. Lease Expire 21st July 2017

#4 Vacant

#5 $500/month. Lease expires 7th March 2017

#6 $490/month. Lease expires 1st July 2017

#7 $550/month. Lease expires 1st July 2017

#8 $560/month. Lease expires 1st July 2017

Tenants pay in a mixture of Online and Direct Deposit

Utilities paid by Landlord

$240/third – Water

$335/third – Sewerage

$15/month - Hall lighting

$2030.45/bi-yearly - Taxes

$70/month – lawn cutting

Contact me for more information. ASKING PRICE is $315,000. 

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  • Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
    10y

    PRICE REDUCED to $299,900

    Property is 100% occupied. Brings $4100 in renal income per month

  • Investor · South Ozone Park, NY · Member since 2016 · 138 posts · 26 votes
    10y

    Are you wiling to hold a note.? What amount and rate? Great tax benefit in deferring your capital gain. Will call you tomorrow to discuss some strategies that can bring tax benefits to you.

    Regards,

    Hem

  • Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
    10y

    @Hem Kumar not interested at all at holding a note.

  • Woodbridge, VA · Member since 2015 · 44 posts · 7 votes
    10y

    @Federico Gutierrez can you email me the T12 income and expense statement for this property? Also, the cap rate for the area this property is in? [email protected]

    Thanks and have a great day.

  • Rental Property Investor · Downey, CA · Member since 2016 · 29 posts · 11 votes
    10y

    Hello @Federico Gutierrez ,

    Is this property still available?

    If so, can you email the financials to [email protected]?

    Thank you Sir!

    Jesus Garcia

  • Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
    9y

    Property has been decreased to $299,990

    All 8units are occupied! brings in $4100/month in RENTS

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