West 105th Apartments / Mixed Use

Green Bridge Real Estate is pleased to present the Recently Renovated, 8 Unit West 105th Street Mixed Use / Apartments located at 3524-3526 West 105th Street in Cleveland’s West Boulevard Neighborhood, OH 44111 offered For Sale: $549,000 ($68,625 per unit). The West 105th Mixed Use / Apartments consists of 2 Two Bedroom, One Bathroom Suites, 4 One Bedroom, One Bathroom Suites, 1 Studio and 1 approx. 600 Sq.Ft. Commercial / Retail Suite, two story, all brick, approx. 4,353 Sq.Ft. Mixed Use / apartment property built in 1920 and located on .11 Acres. Recently Fully Renovated with new Furnaces and HVAC; New Kitchens and Cabinets; Bathrooms; Flooring throughout; Windows; & Doors; Roof Patched and Repaired; New Hot Water Tank and all walls painted throughout;. Utilities Submetered to allow for Tenant Paid Heat (Individual Gas Furnace and new Hot Water Tank Heat for each unit) and Electric (Lights and Plugs). Landlord paid Water and Sewer. Currently vacant and renovations 90%+ completed. Will be delivered ready for immediate occupancy with City of Cleveland occupancy permit issued and Lead Safe Program compliant. Outstanding Turn-Key Investment with no deferred maintenance and needing very little management. All Suites each have appliances, furnace, hot water tank and are approx. 550 Sq.Ft. each for the 1/1’s and 700 Sq.Ft. each for the 2/1’s. There are hookups ready for a total of 2 sets of Washer and Dryers to provide additional income. A rear surface parking lot provides approx. 6 parking spaces. Projected Net Operating Income at 100% Occupancy at Market rents w/8% Management Fee and Real Estate Tax Adjustment is $43,210 or a 7.87% Cap at the Asking Price of $549,000.
LOCATION
The West 105th Apartments / Mixed Use are located in the desirable Westside of Cleveland near Interstates 90 and 71. Located just six miles West from Downtown Cleveland and four miles South of Edgewater Park/Marina. Conveniently located in a neighborhood where you can walk to grocery stores, drug stores, libraries, and restaurants. A short 10 minute commute to Downtown, all major hospitals, retail and office areas. RTA Public transportation is also readily available within the neighborhood with numerous bus stops and a rapid transit station within walking distance.