Individual Furnaces
SHORT SALE OPPORTUNITY
Just off Superior Blvd near the Cleveland Heights border, this 60 unit property has been well maintained and occupancy is high.
With seperate furnaces and hot water heaters in each unit, all gas and electric is paid for by the tenants. The owner pays for common electric, water & sewer.
The windows in all 5 buildings have recently been replaced, extensive concrete work has been completed, and the property has 44 garage spaces with additional surface parking.
Submarket Demographics |
| Submarket Population: | 27,217 |
| Renter Occupied Housing: | 53.6% |
| Submarket Trend: |
 Stable
|
Property Facts |
| Location: | 15951-15991 Nelacrest, East Cleveland, OH |
| Number of Units: | 60 |
| Offering Price: | 875,000 |
| |
| Net Operating Income: | 146,512 |
| Cap Rate: | 16.74 |
| Building Occupancy: | 92% |
| Year Built: | 1963 |
| |
| |
| Unit Mix: |
| Units | Type |
Avg. Rent |
| 10 | One Bedroom | $440 |
| 50 | Two Bedroom Suite | $475 |
|
