3030 S Moreland Boulevard, Cleveland, OH 44120

Property Description

Introducing an incredible investment opportunity—12 units spread across two adjacent 6-unit properties just south of Shaker Square offered at an attractive $55,000 per unit! These properties offer individual furnaces and hot water tanks for each unit, allowing tenants to cover their own electric and gas, while the owner only covers water and sewer. With some mechanical replacements and minor cosmetic updates already completed, a new owner can step in and take advantage of further cosmetic upgrades to boost rents significantly. With the option to transition to Section 8 housing, even higher returns can be achieved. With a proforma cap rate of 12.14%, this opportunity comes with upside potential, making it a fantastic addition to any real estate portfolio. Plus, in-suite laundry adds convenience for tenants, making these units even more desirable!