20 units for sale westside Cleveland Oh

[Phil Johnson]

20 unit complex for sale. West side of Cleveland oh

2 buildings on 1 parcel

First building has 2 apartments 2 storefronts. Building is RENT READY

2 bedroom apartments

950 sq ft storefronts

All new everything, plumbing, electrical, hot water tanks, furnaces, flooring ext. All permits and have been issued and inspections passed.

2 bedrooms should rent for 700-800 a month.

2 storefronts at around $1 a sq ft.

750$ each is more realistic

Building one should bring in 2800-3000$ a month.

Building 2 has 16 units. And needs rehab.

Rehab quotes from contractors has ranged from 65k - 100k to make that building rent ready.

Deal just fell through, but the ARV they had from their lender was $780k.

Asking $525k as is

Will hold a short term note at 7%, and 40% down.

Price is not firm willing to listen to any reasonable offers.

Cleveland market is hot, dont miss this deal. I am the owner. Not back taxes or mortgage on the property.

Any questions let me know!