1125 Galewood Drive, Cleveland, OH 44110
- $87,900
- 4
- BD
- 1
- BA
- 1,402
- SqFt
- Sold Price
- $87,900
- List Price
- $89,900
- Status
- CLOSED
- Days on Market
- 40
- Closing Date
- Jul 08, 2024
- MLS#
- 5041646
- Subtype
- Residential
- Style
- Colonial
- Year Built
- 1915
- Bedrooms
- 4
- Bathrooms
- 1
- Full Baths
- 1
- Living Area
- 1,402
- Acres
- 0.05
- Subdivision
- Leworthy Helwick Companys
- Neighborhood
- Leworthy Helwick Companys
- MLS Area Major
- Cleveland
Property Description
Discover this prime investment opportunity with a recently updated single-family home. The property features a brand new kitchen, new flooring throughout, fresh paint, and numerous additional upgrades, making it an attractive option for both tenants and investors alike. The property is currently occupied with a tenant paying $1,300 per month, covering their own electric and gas, while the owner is responsible for water and sewer. The lease is in place until June 1, 2025, providing stable cash flow for the foreseeable future. This stabilized, cash-flowing property offers an impressive financial profile, with an 11% capitalization rate (CAP) as-is and a nearly 20% cash-on-cash return. This investment delivers substantial returns without the need for additional improvements, making it a turn-key addition to any portfolio. Don't miss out on this high-yield investment opportunity in a desirable location. The county auditor's website states that there are 3 bedrooms and 1 bathroom but the owner states that there are 4 bedrooms and 1 bathroom since they finished the attic.
Additional Information
- Taxes
- $633
- Property Description
- Colonial
- Heating
- Forced Air
- Air Conditioning
- None
- Levels
- Three Or More
- Roof
- Asphalt, Fiberglass
- Parking Features
- On Street
- School District
- Cleveland Municipal - 1809
Listing Courtesy of: Tal Tamir, tal@premierclevelandinvesting.com With Russell Real Estate Services
Selling Office: Keller Williams Greater Metropolitan.Mortgage Calculator
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