3030 S Moreland BLVD Pending

Cleveland,OH 44120

$ 660000

- Bed

0 Bath

0 SqFt


Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

MLS Listing ID 5072778

Year Built 1952

Annual Tax Amount $23,919

Tax Year 2023

Lot Size 9,321 Sqft

Property Description

Introducing an incredible investment opportunity?12 fully occupied units spread across two adjacent 6-unit properties just south of Shaker Square offered at an attractive $55,000 per unit!

These properties offer individual furnaces and hot water tanks for each unit, allowing tenants to cover their own electric and gas, while the owner only covers water and sewer. With some mechanical replacements and minor cosmetic updates already completed, a new owner can step in and take advantage of further cosmetic upgrades to boost rents significantly. With the option to transition to Section 8 housing, even higher returns can be achieved.

Currently offering over an 8% in-place cap rate, this opportunity comes with upside potential, making it a fantastic addition to any real estate portfolio. Plus, in-suite laundry adds convenience for tenants, making these units even more desirable!

Location

State OH

County Cuyahoga

Interior

Heating Forced Air

Building

Sewer Public Sewer

Water Public

Schools

School District Shaker Heights Csd - 1827

Others

Acceptable Financing Cash,Conventional,1031 Exchange

Listing Terms Cash,Conventional,1031 Exchange

Special Listing Condition Standard

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