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Dawn Semancik

dawnsemancikhomes@gmail.com +1(216) 650-0746

$150,000

Est. payment - /mo

4,843 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Pending

Purchase Type For Sale

Subdivision F W Sears Allotment

MLS Listing ID 5185011

HOA Y/N No

Year Built 1900

Annual Tax Amount $3,137

Tax Year 2025

Lot Size 4,843 Sqft

Acres 0.1112

Property Sub-Type Mixed Use

Property Description

Located in the highly desirable Old Brooklyn neighborhood, this two-unit mixed-use property offers strong cash flow with tenants paying all utilities, including water, sewer, and trash. The upper residential unit features a studio and a 2 bedrooms, one full bath, full attic access, and new flooring throughout, and was recently rented at $950 a month and will be vacant at closing. (The lower tenant has a friend interested in leasing this space) The lower commercial unit includes a half bath and private access to the basement and is occupied at $700 per month on a month-to-month lease by a long-term tenant of approximately two years who uses the space for music practice and storage and would like to remain. Market rents for both units exceed $1,200 per month, providing clear upside. Owner expenses are minimal with approximately $95 per month in insurance and $260 per month in taxes, and the property is currently self-managed. The roof is approximately four years old, the hot water tank was replaced in 2023, and the electric was updated about two years ago. Conveniently located near MetroHealth Hospital, Cleveland Zoo, Ridge Park Square, and major commuter routes, this property is easy to rent and produces a current cap rate over 8 percent with a pro forma cap rate exceeding 10 percent after factoring in maintenance and management. Financials and proforma attached. No seller financing.

Location

State OH

County Cuyahoga

Rooms

Basement Full

Interior

Heating Forced Air, Gas

Cooling Central Air

Fireplace No

Exterior

Parking Features Driveway, Paved

Fence Partial

Water Access Desc Public

Roof Type Composition,Shingle

Present Use Mixed Use,Residential,Single Family

Building

Foundation Basement

Sewer Public Sewer

Water Public

Level or Stories Two

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 011-03-014

Special Listing Condition Standard

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IDX - Northern Ohio Regional MLS (YES-MLS)/MLS NOW

Listed by Erin Thomas • Keller Williams Living • Erinthomas@kwcommercial.com, 440-670-2300

NEARBY SCHOOL & BUSINESS

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Dawn Semancik

+1(216) 650-0746

Team Leader | License ID: SAL.2016005292

Team Leader License ID: SAL.2016005292

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4435 State RD Cleveland, OH 44109

Dawn Semancik

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION