$450,000
837 Wayside RD Cleveland, OH 44110
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$450,000
Est. payment /mo
5,000 Sqft Lot
UPDATED:
09/30/2024 05:26 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision John F Cavanaughs
MLS Listing ID 5066292
HOA Y/N No
Year Built 1918
Annual Tax Amount $3,580
Tax Year 2021
Lot Size 5,000 Sqft
Acres 0.1148
Property Description
Fully occupied, 5 unit turnkey South Collinwood apartment building bringing in $5,402/month. All units thoroughly renovated and all units are 100% subsidized by either CMHA or Eden and are generating top of the market rents. All units have recently passed the CMHA / Eden pre-tenancy inspections and is lead safe certified through 8/16/2026. Each unit is submetered for electric and gas with their own furnaces and hot water tanks. Two furnaces and 3 water tanks recently replaced too. Landlord pays for water / sewer, trash removal, and common area electric. The owners were considering converting the attic to a studio apartment, and the basement is massive with room for another unit, so there's room for an enterprising investor to increase the rent potential by adding another unit or two.
Rents for each unit are as follows:
Unit #1: 3/1. $1,202/month rent fully subsidized by Eden.
Unit #2: 3/1. $1,300/month rent fully subsidized by CMHA.
Unit #3 3/1. $1,300/month rent fully subsidized by CMHA.
Unit #4: 2/1. $850/month rent fully subsidized by Eden.
Unit #5: 1/1. $750/month subsidized by CMHA.
This low maintenance turnkey property is the perfect portfolio builder for investors who are looking to sit back and collect the rent checks. This building may be purchased on its own, or in a package deal two other nearby turnkey properties; a duplex and a single family home. No seller financing. No wholesalers. Offers with assignment clauses will be rejected. See broker remarks or email broker for a video walk through of the property.
Rents for each unit are as follows:
Unit #1: 3/1. $1,202/month rent fully subsidized by Eden.
Unit #2: 3/1. $1,300/month rent fully subsidized by CMHA.
Unit #3 3/1. $1,300/month rent fully subsidized by CMHA.
Unit #4: 2/1. $850/month rent fully subsidized by Eden.
Unit #5: 1/1. $750/month subsidized by CMHA.
This low maintenance turnkey property is the perfect portfolio builder for investors who are looking to sit back and collect the rent checks. This building may be purchased on its own, or in a package deal two other nearby turnkey properties; a duplex and a single family home. No seller financing. No wholesalers. Offers with assignment clauses will be rejected. See broker remarks or email broker for a video walk through of the property.
Location
State OH
County Cuyahoga
Interior
Heating Forced Air
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 116-21-008
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by C. Timothy Murphy III • CTM Organization LLC • 440-941-3846 tim@tim-murphy.org
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