9615 Lorain AVE Active Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44102
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5096895
Year Built 1910
Annual Tax Amount $30,087
Tax Year 2024
Lot Size 0.272 Acres
Property Sub-Type Apartment
Property Description
Cash flowing 17 unit Brick Building consisting of 15 apartments and two store fronts, This is a turnkey well performing building with a waitlist of tenants. Improvements included Main Electric has been updated, New water heater and 7 apartments that have been renovated. Lead Certified Property with the city of Cleveland. Additional income opportunity with parking lot (monthly fee) and Room for laundry service expansion in the basement.
The location of this building is ideal as it is close to highways, public transportation, downtown Cleveland and shopping/dining in popular Ohio City. Monthly gross rental income $13,510/162,120 annually. Strong rental market with tenant demand and an attractive cap rate makes the property an ideal investment opportunity for long term wealth.
Location
State OH
County Cuyahoga
Interior
Heating Hot Water,Steam
Exterior
Parking Features Off Street,Parking Lot,On Street
Roof Type Composition,Flat
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard