| Video tour along with financial analysis from Holton-Wise Co-Founder James Wise below. MUST WATCH! |
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HIGHLIGHTS:- Asking price $824,900
- Video tour available in the video above
- 21 residential units
- 90% occupancy. 19 units leased. 2 units left vacant for the sale
- Vacant units are 100% rent ready. No repairs needed
- Price per unit $39,280
- All tenants pay their own electric
- All units have A/C
- 1 central boiler
- New 100 gallon high recovery commercial hot water tank installed in 2018
- Building is professionally managed by Holton-Wise
- The Founders of Holton-Wise James Wise & John Holton have an ownership stake in this building
- Watch the video above to find out why we are selling
- Annual property taxes $22,396.12
- Built in 1963
- 22 parking spaces
- Owner pays water & sewer CLICK HERE to find out how to budget for water & sewer
- No owner financing
- No Point of Sale requirement in Cleveland
- Torch Down Roof 2012
- Windows older
- Over $80,000 of renovations since 2016 (Full scope of work available upon request)
- Across the street from another one of Holton-Wise's multi million dollar development projects
Rent Roll & Unit information- Unit 1- 1B/1B - Rented for $600. $575 Security Deposit
- Unit 2- 2B/1B - Rented for $600. $575 Security Deposit
- Unit 3- 2B/1B - Rented for $625. $825 Security Deposit
- Unit 4- 1B/1B - Rented for $675. $650 Security Deposit
- Unit 5- 1B/1B - Rented for $670. $585 Security Deposit
- Unit 6- 2B/1B - Rented for $625. $625 Security Deposit
- Unit 7- 2B/1B - Rented for $675. $675 Security Deposit
- Unit 8- 2B/1B - Vacant. Market rent $725 w/ upgraded kitchen. $675 As-Is
- Unit 9- 1B/1B - Rented for $495. $495 Security Deposit
- Unit 10- 2B/1B - Rented for $685. $850 Security Deposit
- Unit 11- 2B/1B - Rented for $725. $650 Security Deposit
- Unit 12- 2B/1B - Rented for $615. $799 Security Deposit
- Unit 14*- 1B/1B - Rented for $575. $575 Security Deposit
- Unit 15- 1B/1B - Rented for $525. $650 Security Deposit
- Unit 16- 1B/1B - Rented for $575. $575 Security Deposit
- Unit 17- 1B/1B - Rented for $550. $550 Security Deposit
- Unit 18- 1B/1B - Rented for $585. $585 Security Deposit
- Unit 19- 1B/1B - Rented for $500. $500 Security Deposit
- Unit 20- 1B/1B - Rented for $575. $550 Security Deposit
- Unit 21- 1B/1B - Rented for $550. $550 Security Deposit
- Unit 22- 1B/1B - Vacant. Market rent $675 w/ upgraded kitchen. $565 As-Is
- Monthly Gross Rent Total - $12,825
- Annual Gross Rent Total - $153,900
Room for slight rental increases still available- 13 1 beds rented at max rent of $675 -$8,775
- 9 2 beds rented at max rent of $725 - $6,525
- Max Monthly Gross Rent Total - $15,300
- Max Annual Gross Rent Total - $183,600
*Apartment buildings typically do not include a unit 13 due to common superstitions |
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| When you are looking into purchasing rental real estate you probably have many questions about the policies & procedures of Holton-Wise as well as the industry in general. At Holton-Wise we believe in complete transparency throughout the entire investment process.Please take a look at the video below. Holton-Wise includes an informational &/or educational video in every property offering. These videos are a MUST WATCH for both new & seasoned investors. #RealEstateInvestingMadeEasy |
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| Copyright © 2018 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. |
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Have Real Estate Questions? I've got the answers!
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Post your questions in the comments section of this video 👉 https://youtu.be/WiFxO0mfDFA using the hashtag #AskJamesWise & James Wise will make a video answering them.
Topics of interest are as follows
1. Real Estate Sales
2. Real Estate Investing
3. Rental Properties
4. Online Marketing
5. Insurance
6. Personal Finance
7. Social Media
8. Commercial Real Estate Investing
9. Commercial Real Estate Sales
10. Vertical Integration
11. Investing using Other People's Money (OPM)
12. Building a Business from Scratch
13. Politics
14. Interest
15. Debt Management
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Helpful Resources;
How to Calculate the Income & Expenses on A REAL INVESTMENT PROPERTY <---Over 30,000 views!
James Wise interviewed by Realtor.com when Cleveland was named the best metro for Real Estate Investing
The Ultimate Guide to Grading Cleveland Neighborhoods
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Serving the entire Greater Cleveland, Ohio area.
Have you heard of Holton-Wise? If not, check out what we are up to 👇👇👇
2017 A YEAR IN REVIEW:
Holton-Wise has had another strong year of growth in 2017. We saw strong gains in all 3 of our major business functions (Sales, Property Management & General Contracting). Below is a breakdown of our growth since we began assisting Homeowners, Tenants, Sellers & Anyone else interested in Real Estate in the Cleveland market 5 years ago.
SALES:
- 2017 Closed Sales $48,717,029 (438 Closed Transactions)
- 2016 Closed Sales $33,046,506 (343 Closed Transactions)
- 2015 Closed Sales $7,500,539 (119 Closed Transactions)
- 2014 Closed Sales $2,261,161 (47 Closed Transactions)
- 2013 Closed Sales $241,700 (6 Closed Transactions)
PROPERTY MANAGEMENT:
- 2017 Collected Rent $3,459,624.90
- 2016 Collected Rent $2,291,445.84
- 2015 Collected Rent $946,324.01
- 2014 Collected Rent $163,491.53
- 2013 Collected Rent $17,910.00
GENERAL CONTRACTING:
- 2017 Construction Sales $1,925,765
- 2016 Construction Sales $1,403,949.66
- 2015 Construction Sales $531,175
- 2014 Construction Sales $150,969.06
- 2013 Construction Sales $23,933.20
TOTAL BUSINESS:
- 2017 Total Business $54,102,418.90
- 2016 Total Business $36,741,901.50
- 2015 Total Business $8,978,038
- 2014 Total Business $2,859,164.70
- 2013 Total Business $283,543.20
AFFILIATED BUSINESSES:
- FARMERS HOAG INSURANCE AGENCY
- 2017 Gross Commission $50,160.20 (814 Active Polices)
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