This fantastic opportunity to purchase a large brick build residence containing four spacious apartments plus an additional storefront commercial
unit. The property is located in South Broadway which is just 6 miles from Downtown Cleveland. The house is also bordering on Garfield Heights and
is just 1.5 miles from the famous Garfield Heights High School. Garfield Heights is one of the most demanded and prestigious areas in Cleveland
On the first floor the property has four apartments. There are three spacious two bedroom apartments and also a one bedroom apartment. Two of
the two bedroom apartments have been recently updated and have tenants in place, the one bedroom apartment also has tenants in place and the
rental income for all three is currently $2,200 each month. The remaining vacant two bedroom apartment will be supplied by the seller rent ready to
a Section 8 standard. The cosmetic repair costs are included in the price and the work will begin as soon as the new owner closes on the property.
When complete the management company will place a brand new tenant. The current market rate with Section 8 is $850 – $1,100 in rent each
month. The building also has a large storefront commercial unit on the ground floor. This was rented as storage for $750 per month but is now vacant
and available for the new owner to rent. This unit should achieve $1,100 each month.
South Broadway is just 2 miles South of Slavic Village which is going through large development projects. This is one of the most up and coming areas
in the City and in huge demand by investors due to new build properties increasing the value of the properties in the surrounding areas. The property
is just bordering on the famous Garfield Heights, one of the most desirable areas in Cleveland and is just 1.5 miles from Garfield Heights High School.
The property is also right next to The Warner Girls Academy and at the bend of a great street.