For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $120,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,280 sqft
Price per Sqft $52
MLS Listing ID 5006651
Sold Date 09/06/24
Bedrooms 4
Full Baths 2
HOA Y/N No
Abv Grd Liv Area 2,280
Year Built 1915
Annual Tax Amount $1,260
Tax Year 2022
Lot Size 6,921 Sqft
Acres 0.1589
Property Description
Welcome to this great investment opportunity! This rare and fully occupied side-by-side duplex, boasts an over 10% cap rate AS-IS, delivering nearly 20% cash-on-cash return. Each of the well-maintained units features a 2-bedroom and 1-bathroom layout, occupied by dependable Section 8 tenants. With a combined gross rent of $1,716 per month – $910 from one tenant under lease until February 2024 and $806 from the other, who has resided here for many years on a month-to-month lease – this investment is primed for continued stable returns. The savvy investor will appreciate the tenant-paid utilities, with occupants responsible for electric and gas while the owner covers water and sewer expenses. Mechanicals are in excellent condition, showcasing furnaces dating from 2007 and 2013, along with hot water tanks from 2012 and 2022. The property’s roof is currently in the middle of its life expectancy and is still in great condition. With various updates completed over the years, this duplex promises a secure and lucrative investment opportunity for those seeking reliability and long-term value. Don't miss your chance to own this income-generating asset!
Location
State OH
County Cuyahoga
Rooms
Basement Common Basement, Full
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Laundry Common Area
Exterior
Parking Features Common, Driveway, On Site, Paved, On Street
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 136-24-071
Financing Conventional
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Leilani M Bowersock • Coldwell Banker Schmidt Realty