UPDATED:
01/16/2025 04:41 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Jennings & Other
MLS Listing ID 5012306
HOA Y/N No
Year Built 1963
Annual Tax Amount $13,109
Tax Year 2023
Lot Size 6,921 Sqft
Acres 0.1589
Property Description
This ALL brick mid 1960's boasts 14) apartments, all 1 bed / 1 bath approximately 550 sq per units each with their own w/ A/C.
Complete luxury renovation in 2022/23 with ALL NEW flooring, lighting, solid surface granite countertops w/ farmhouse oversized sinks and spray neck faucets , nicely finished with all NEW SS appliances. Step into the bathroom where you'll find hospitality grade finishes w/ honeycomb ceramic tile on floor to offset the white subway tile finishes.
This property is nicely finished with onsite laundry and off street secure/private parking for each unit at the rear.
Seller has positioned this asset at top of the market and has top of the market rents .
Each unit has its own breaker box and all electrical has been upgraded from fuses and new meter bases.
Tenants Pay:
Electric and Cable
Owner pays: Water, Sewer, Sanitation and Gas/Heat
(Tenant Back Charged for Utilities at Approximately $90 per unit for heat/gas included in rent - Avg. Rent of $1,100 )
2 Newer Boilers - previous owners
Set Of Coin Operated Washer/Dryer on Site generates about $120 monthly (NET).
Annual Income: $174,480
Annual Expense: $ 36,275
CAP ~ 8.2 %
Property Taxes:$ 13,091
Insurance: $ 6,408
Location
State OH
County Cuyahoga
Interior
Heating Gas, Hot Water, Steam
Fireplace No
Exterior
Water Access Desc Public
Present Use Multi-Family
Total Parking Spaces 20
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 001-25-053
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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Dawn Semancik
Team Leader | License ID: SAL.2016005292
Team Leader License ID: SAL.2016005292
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