1502-1500 Coventry RD Active

Cleveland,OH 44118

$ 2000000

- Bed

0 Bath

0 SqFt


Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Apart Rlty

MLS Listing ID 5060848

Year Built 1946

Annual Tax Amount $28,393

Tax Year 2023

Lot Size 0.730 Acres

Property Description

CALLING ALL INVESTORS looking to expand their investment portfolio! If you are looking for a turnkey apartment complex then look no further! This property features 22 units (4 which are 1 bed/bath and 18 which are 2 bed/1bath.) All units are completely renovated, turnkey and are immediately ready for tenants! This building is currently being used as a sober living facility so it does not have any running financials records for rents. Current comparable apartment rents in the area range from 1,000-1,200 a unit.
Proforma gross income can be projected at a conservative amount of $26,000. This would put your gross rental income at $312,000 a year, which gives you a 15.6% cap rate before expenses! This will not last long! It's in close proximity to RTA transportation, freeway access, restaurants, hospitals, the Cleveland Heights community center, and is close to downtown Cleveland! Do not miss this opportunity today! Schedule your showing!

Location

State OH

County Cuyahoga

Interior

Heating Hot Water,Steam

Cooling None,Window Unit(s)

Exterior

Garage Parking Lot,On Street

Roof Type Composition,Shingle

Building

Foundation Basement

Sewer Public Sewer

Water Public

Schools

School District East Cleveland Csd - 1812

Others

Special Listing Condition Standard

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