8 unit Apartment Building Lakewood Ohio Value Add Potential

[Nicholas Varner]

Use the BRRR method in slow motion. Currently fully occupied 8 unit property has a ton of potential. 6-1 bedroom units and two store fronts on a busy street make this brick building a steal.

With updates to the 1 bedroom units, rents could easily go to $625/unit. Turn this over as slow or quickly as you want. The building appraised for 265K in 2013. Appreciation in the area has happened since then, but this owner is ready to retire and the price has dropped to 259K. Inspection report is available.