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Off Market Turnkey Multi Family - 1669-1675 Carlyon Road East Cleveland OH 44112

1669 Carlyon Rd, East Cleveland, OH 44112

$459,400 After Repair Value -
$230,000 Asking Price -
$0 Cost of Repairs =
$229,400 Potential Profit

Property Details

Asking Price $230,000

After Repair Value $459,400

Costs of Repairs $0

Potential Profit $229,400

Living Area 5,840 sqft ft2

Property Type Multi-Family

Bedrooms +7

Bathrooms 6

Half Bathrooms 0

Parking 0

Listed with Agent No

Property Description

The property is a huge brick six-unit two-story, two-bedroom, one-bath each apartment with back-of-the-building tenant parking.

Sale Price = $230,000.00 (Negotiable)
Current Rental Annual Income - $50,400
Estimated Insurance = $1700
Estimated Tax = $2500
Property Management = 10%
Vacancy = 0% - 100% occupied!
Inspection report available to serious end buyers

Tenants pay $750 monthly. Tenants pay for all utilities except for water and sewer.

The property has approximately 5,840 sqft of floor space. This property has a lot size of 8,640 sqft, built in 1915: no foundation issues and only minor repairs where needed.

Rented BELOW Market Value * - rent comps show the two bedrooms could rent for $919. This property not only provides a stable cash flow opportunity but allows the next owner to add value and reap the benefits of forced appreciation! The property is 100% occupied! Currently self-managed, but there is a property manager we would recommend.

Conveniently located minutes away from schools, multiple local eating establishments, and Case Western Reserve University, Stephanie Tubbs Jones Health Center Cleveland Clinic.

CONTACT LISTING OWNER

DON DONAT

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