$85,000
$91,500
7.1%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
4,599 Sqft Lot
SOLD DATE : 06/10/2024
Key Details
Sold Price $85,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Subdivision Liberty Sub #2
MLS Listing ID 4507653
Sold Date 06/10/24
Style Ranch
Bedrooms 2
Full Baths 1
HOA Y/N No
Year Built 1948
Annual Tax Amount $1,549
Tax Year 2022
Lot Size 4,599 Sqft
Acres 0.1056
Property Description
Turnkey rental property just west of W. 130th. Offered as part of a portfolio sale, 6 single-family residential properties. Each of which are or have been approved by Section 8 housing. The portfolio, if rented at market rents can gross over $7,000/mo. and is listed for $651,000, approximately 9.1% Cap Rate at list price. This well-maintained 2 bed 1 bath home has an estimated market rent of $1,050/mo. This property is currently being rented via CMHA for $850/mo. on a month-to-month lease with the owner paying for water/sewer - there is much room for rent to be increased and the owner was planning on filing for a rent increase with CMHA at the beginning of next year. Windows have been recently updated - very easy to maintain. Conveniently located near freeways, shopping, Cleveland Clinic, and just minutes to the airport and Downtown Cleveland. This home along with the portfolio is self-managed by the owner and family. MLS #s 5005577, 4507649, 4507651, 4507652, 4507653, 4507654 are all included in this portfolio. Call your agent to inquire about details, other properties in the portfolio, and the attached pro-forma analyses. Showings are allowed only once an offer has been accepted due to tenant-occupancy.
Location
State OH
County Cuyahoga
Rooms
Main Level Bedrooms 2
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Exterior
Parking Features Concrete, Detached, Garage
Garage Spaces 1.0
Garage Description 1.0
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Ranch
Level or Stories One
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 022-14-087
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Cash
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Bought with Brett A Young • Fathom Realty