Cleveland OH Commercial for Sale

ADDITIONAL INFORMATION

Discover this remarkable 15 unit portfolio located in the highly sought-after Cleveland Heights neighborhood. The portfolio is made up of 2 brick apartment buildings in close proximity to one another. Enjoy seamless access to downtown Cleveland, major healthcare centers like CLE Clinic Main Campus and University Hospital Main Campus as well as educational institutions like Case Western Reserve University and Cleveland Institute of Music. The portfolio is situated just steps away from live music venues, vibrant bars, restaurants and shopping destinations. The location makes them ideal rental options for young professionals, undergrad/graduate students, medical professionals, as well as tenants looking for an affordable and convenient living option on Cleveland’s vibrant east side. Currently grossing $16,680 per month in rental income with plenty of upside, these assets are primed for a major value add opportunity! Each unit has separate electric meters, with tenants responsible for their own electric bills. The boiler & water/sewer are the responsibility of the owner. Through light cosmetic updates, potentially renting to some voucher holding tenants, and implementing additional fee structures and water savings plan, an investor is poised to create significant equity. Many units boast beautiful natural hardwood floors, adding charm and appeal. A number of units have seen cosmetic updates during current ownership including, paint, lighting, kitchen and bath updates. In general, the portfolio will benefit from additional, easy cosmetic updating on the remaining majority of units to fetch rental premiums or a buyer can opt to simplify their unit turns and rent to voucher holding tenants as a way to reduce out of pocket costs. In addition, new mechanicals, roof sealing, and other capital expenditures have been taken on by ownership in the last few years.

ADDITIONAL INFORMATION

Prime Location - Don't miss this incredible real estate investment opportunity! This impressive 11-unit building boasts a steady 90% or better occupancy rate; currently, we are fully occupied. All units have their furnace (in-unit), and a/c units are on the roof. The exception is #10, which has a furnace in the laundry room, two hot water heaters in the laundry supply of the building, and onsite laundry for eight two-bedroom and three one-bedroom apartments. A new roof was installed in 2013, and all new windows, except for two units, were installed in 2016. This property is 100% pet and smoke-free. Nestled at the top of Murray Hill near the charming Little Italy neighborhood, this well-maintained two-story, all-brick building with no basement is a solid investment. The spacious lot includes a detached all-brick carport with space for approximately 30 vehicles and ample street parking. While the apartments could benefit from some cosmetic updates, doing so can increase rental rates and a higher return on investment, making it a promising opportunity to enhance the property's value.

ADDITIONAL INFORMATION

ADDITIONAL INFORMATION

Discover this remarkable 8-unit brick apartment building located in the heart of Coventry Village, within the highly sought-after Cleveland Heights neighborhood. Enjoy seamless access to major healthcare centers like Cleveland Clinic Main Campus (8-minute drive) and University Hospital Main Campus (6-minute drive) as well as educational institutions like Case Western Reserve (4-minute drive), Notre Dame College (11-minute drive), and John Carroll University (12-minute drive). In addition, this 8-unit property is situated just steps away from live music venues, vibrant bars, delectable restaurants, and eclectic shopping destinations. This ideal, prime location makes it very desirable for tenants of all backgrounds from medical students, doctors, college students and those interested in great nightlife. This fully occupied property is currently generating an impressive $9,905 per month, with a proforma potential of nearly $13,000 per month. Each unit has separate electric meters, with tenants responsible for their own electric bills and the boiler & water/sewer being the responsibility of the owner. All units boast beautiful natural hardwood floors throughout, adding charm and appeal, and large windows flood the spaces with natural light, creating a bright and inviting atmosphere. The property includes six covered garage spots, providing convenient and secure parking for tenants. Some units have undergone updates, including refinished hardwood floors, modern paint, and upgraded bathrooms and kitchens. With additional simple cosmetic upgrades, you can easily reach the proforma rent of nearly $13,000 per month. Take advantage of this rare investment opportunity in one of Cleveland Heights' most desirable areas!

ADDITIONAL INFORMATION

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 $9,920 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 laundry—an 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!

ADDITIONAL INFORMATION

great investment potential*motivated seller*this opportunity consists of two first floor stores, one of which is rented, and 6-8 apartment units that need rehab*plenty of cash flow potential for the right purchaser*building is 12,532 square feet*

ADDITIONAL INFORMATION

Unique opportunity to acquire a commercial lot zoned for apartment development in the ever expanding University Circle area of Cleveland. New construction throughout the block on Orville Avenue off East 105th. Nestled between 10729 Orville and 10801 Orville