FOR SALE 4153 Rocky River Dr
Cleveland, Ohio 44135
WAS $299,900
NOW $259,900! |
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WOW! That's all we can say about this opportunity! Get the best of both worlds with this building. You have the opportunity to get Lakewoodesq tenants and rental amounts while only having to pay Cleveland taxes. Kamm's Corners is one of the hottest neighborhoods in Cleveland. There is a huge demand for modern amenities in this highly popular neighborhood that caters to college educated professionals.
The owners of Holton-Wise own several rental properties in this neighborhood and they receive top dollar for their properties. One SFR that they have just a stones throw away from this building rents for $1,495/mo.
If that was not enough this deal has VALUE ADD written all over it.
HIGHLIGHTS- 12 Total units
- 5 1 bedroom apartments
- 3 Studio apartments
- 4 Retail storefronts
- Asking price $259,900
- 83.33% occupied
- 4 of the 5 One bedroom apartments are rented for $450/mo. These apartments could rent for $650/mo with a high end renovation
- All 3 of the studio apartments are rented for $375/mo. These could be increased to $500/mo with a high end loft style renovation
- 3 of the 4 retail storefronts are rented for $525/mo. These could be increased to $800/mo
- Current monthly rent at 100% occupancy $5,475
- Projected monthly rent with upgraded units & 100% occupancy $7,950
- Furnaces are all original
- Windows are older
- Roof is 10 years old
- 2 hot water tanks in the building were replaced in 2011
- Owner pays water & sewer for the entire building
- Owner pays heat for the 8 residential units
- Commercial units pay for their own heat
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Copyright © 2016 The Holton-Wise Property Group, All rights reserved.
The Holton-Wise Property Group does not doubt the accuracy of any of the information contained herein. However we have not verified it and make no guarantee, warranty or representation about it. Properties listed herein may be listed by brokerages other than The Holton-Wise Property Group. It is your
responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of any property. Actual results may vary from any projections, opinions, assumptions, or estimates and you should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
The Holton-Wise Property Group
4207 Brookpark Rd. Parma, Ohio. 44134.
216-661-6633 |
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