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Sold over 4 years ago

$250,000

1.0 rooms 4+ ba 5870 sqft

2443 Noble Rd, Cleveland, OH 44121

Commercial Commercial Occupied

Current Rent **

$2,955

Projected Rent **

$3,755

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

9.7% CAP RATE! 5-Unit Multifamily - Cleveland Ohio!!

Unique opportunity to add a stabilized 5-unit, brick multi-family building to your portfolio. This property has incredible street exposure for drive by tenants and free marketing!

This property cash flows from day one and will need minor ongoing maintenance. This property has updated pex plumbing, updated electrical, individual furnaces and hot water tanks, and a private detached six car garage that is not currently being utilized! These can be easily rented out for $10-20 month/space adding additional income to your bottom line.

All five spaces are large and spacious two bedroom and one bath units with updated tile bathrooms, newer fixtures, carpet, or hardwood throughout, fresh paint and appliances provided by owner! All five units have been renovated to a certain degree and in order to increase rents to the market rate of the building and area ($800) there will need to be very minor work done! Building is fully occupied, do not approach the property or tenants. Thank you!

Location:

2443 Noble Rd, Cleveland, OH 44121

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.