3186 W 52nd Street, Cleveland, OH 44102
- $190,000
- 8
- BD
- 4
- BA
- 4,413
- SqFt
- Sold Price
- $190,000
- List Price
- $214,900
- Status
- CLOSED
- Days on Market
- 84
- Closing Date
- Oct 23, 2024
- MLS#
- 5058233
- Subtype
- Residential Income
- Year Built
- 1900
- Bedrooms
- 8
- Bathrooms
- 4
- Full Baths
- 4
- Living Area
- 4,413
- Acres
- 0.11
- Subdivision
- James M Hoyts Sub
- Neighborhood
- James M Hoyts Sub
- MLS Area Major
- Cleveland
Property Description
Unlock a lucrative investment opportunity with this prime 4-unit property on Cleveland’s sought-after west side! This well-maintained building boasts two currently occupied Section 8 units, with one leasing for $650/month through February 2025, the second unit rented for $775 on an annual lease expiring 7/31/2025 and another at $800/month on a month-to-month basis. The remaining unit is in the leasing process and is being marketed for $950/month, with potential for $1,000/month following minor cosmetic updates. The property features four 2-bedroom, 1-bathroom units and offers a potential strong return with a nearly 14% cap rate and over 20% cash-on-cash return. Tenants cover their own electricity and gas, while the owner is responsible for water and sewer, making this an attractive, high-yield investment with minimal management demands.
Additional Information
- Taxes
- $4,614
- Heating
- Forced Air
- Air Conditioning
- None
- Levels
- Three Or More
- Roof
- Composition
- Parking Features
- On Street
- School District
- Cleveland Municipal - 1809
Listing Courtesy of: Tal Tamir, tal@premierclevelandinvesting.com With Russell Real Estate Services
Selling Office: Russell Real Estate Services.Mortgage Calculator
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