Cleveland, OH 44102,8208 Denison AVE
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Cleveland, OH 44102,8208 Denison AVE
Cleveland, OH 44102,8208 Denison AVE
Cleveland, OH 44102,8208 Denison AVE
Cleveland, OH 44102,8208 Denison AVE

$465,000

Est. payment /mo

$480,000

3.1%
Est.Price: ?

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8208 Denison AVE Cleveland, OH 44102

6,891 Sqft Lot

SOLD DATE : 08/05/2024

Key Details

Sold Price $465,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision W J Lang Denison Ave

MLS Listing ID 5041749

Year Built 1920

Annual Tax Amount $3,320

Tax Year 2023

Lot Size 6,891 Sqft

Property Description

Seize this new investment opportunity with a fully renovated 8-unit apartment building situated in the desirable Westside of Cleveland. This property underwent a comprehensive renovation in 2019, featuring a new roof, updated electrical and plumbing systems, and individual furnaces and hot water tanks for each unit. Each unit has also been cosmetically upgraded with new flooring, fresh paint, and completely revamped kitchens and bathrooms, enhancing tenant appeal and retention. The building consists of a diverse unit mix, including (1) 2-bedroom unit, (3) 1-bedroom units, and (4) studio units. Currently, only one unit is vacant and actively being leased. Tenants are responsible for all utilities aside from water and sewer, reducing owner expenses and increasing net income. Once fully leased, the property is projected to generate nearly $70,000 per year in gross income. With a nearly 9% CAP rate AS-IS and further potential to increase rents as current leases expire, this turn-key property offers investors a solid return on investment with minimal maintenance requirements due to all of the upgrades. Don?t miss out on the chance to add a high-performing asset to your portfolio in a sought-after location with strong rental demand. See supplements for additional financial information.

Location

State OH

County Cuyahoga

Interior

Heating Forced Air

Cooling None

Exterior

Garage On Site

Waterfront No

Roof Type Composition,Flat

Building

Story 2

Sewer Public Sewer

Water Public

Schools

School District Cleveland Municipal - 1809

Others

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by Tal Tamir • Russell Real Estate Services • [email protected] 216-870-8687
Bought with Michael Noble • Keller Williams Elevate

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