$61.37 Per Sq Foot $4,751 est/mo Sourced by Back At You

2549 Kenilworth Road,Cleveland Heights, OH 44106

Cleveland Heights OH, 44106

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Description

Introducing a 7-unit brick building investment opportunity nestled in the coveted heart of Coventry in Cleveland Heights - a rare gem in an ideal, prime location. Boasting proximity to educational institutions like Case Western Reserve (4-minute drive) and Notre Dame College (11-minute drive), and John Carroll University (12-minute drive), as well as quick access to major healthcare centers - a mere 8-minute drive to Cleveland Clinic Main Campus and 6-minute drive to University Hospital Main Campus. Not to mention, the property is situated just steps away from live music venues, vibrant bars, delectable restaurants, and eclectic shopping destinations. This 7-unit is strategically positioned for success no matter which way you look! Fully occupied, this property currently generates $9,875 per month, with a proforma potential of over $11,000 per month. The extremely large units feature beautiful hardwood floors throughout, spacious kitchens with peninsula islands, and the convenience of in-suite laundryan amenity highly sought after by tenants. Some units have already been updated with refinished hardwood floors, modern paint, and upgraded bathrooms and kitchens. To achieve the proforma numbers, all a new owner needs to do are some cosmetic upgrades to one unit and raise the rents on lease renewals for the remaining units. Each unit has separate electric meters, with tenants responsible for their own electric bills, while the boiler and water/sewer is paid by the owner. Additionally, the property includes five garage spaces, providing secure and convenient parking for tenants. Take advantage of this opportunity to invest in one of Cleveland's most dynamic neighborhoods, with immediate income and additional upside potential!

Details

MLS#5050612
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1920
Days On Site17
Listing Provided ByRussell Real Estate Services | Tal Tamir

Features

SQ Feet14,420
BasementY
Story(s)4
Units7
Building(s)1
Acreage0.17

Market Activity 44106

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Learn More About This Property

StateOH
CountyCuyahoga
CityCleveland Heights
Zip Code44106
Community NameEuclid Heights
Listing VS Median (in Euclid Heights)
Price:
$885,000
low | high
Med:
$582,000
84.237288135593% of Average
SqFt:
14,420
low | high
Med:
8,010
94.452149791956% of Average
$ / SqFt:
$61
low | high
Med:
$118
42.061440677966% of Average
On Site:
17
low | high
Med:
130.000000
13.076923076923% of Average
Sourced by Back At You
Listing Updated: July 17, 2024 at 4:49:13 PM PDT