18518 Newell Road, Shaker Heights, OH 44122
- $369,900
- 7
- BD
- 3
- BA
- 3,267
- SqFt
- List Price
- $369,900
- Status
- ACTIVE
- Days on Market
- 2
- MLS#
- 5245993
- Subtype
- Residential Income
- Year Built
- 1927
- Bedrooms
- 7
- Bathrooms
- 3
- Full Baths
- 3
- Living Area
- 3,267
- Acres
- 0.15
- MLS Area Major
- Shaker Heights
Property Description
Excellent investment opportunity in Shaker Heights! This well-maintained multifamily property at 18518 Newell Road offers strong existing income, quality tenancy, and recent capital improvements. The property is currently leased and generating more than $4,200 per month in rental income, providing immediate cash flow for the next owner. The units are currently utilized by Beechmont Country Club, offering the benefit of an established, reputable tenant and an attractive rental history. Recent improvements include plumbing upgrades in both bathrooms along with updated kitchens featuring stainless steel appliances. The property also includes a highly desirable three-car garage, providing ample parking and additional functionality for tenants. Located in sought-after Shaker Heights, this is an excellent opportunity for an investor looking to acquire a stabilized multifamily asset with strong existing income, credible tenancy, recent improvements, and continued long-term potential. Turnkey income from day one!
Additional Information
- Taxes
- $9,060
- Heating
- Forced Air, Gas
- Air Conditioning
- None
- Levels
- Three Or More
- Roof
- Asphalt
- Parking Features
- Detached, Garage
- Garage Spaces
- 3
- School District
- Shaker Heights CSD - 1827
Listing Courtesy of: Alex Severyn, alex.severyn@elitesothebysrealty.com With Elite Sotheby's International Realty
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