1615 Ridgefield Road

1615 Ridgefield Road, Cleveland Heights, OH

$750,000

Price

0.1401 acres

Lot Area

1930

Year Built

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Map
Overview
Lot Area
0.1401 acres
Year Built
1930
MlsNumber
5025009
Description

TURNKEY APARTMENT BUILDING! If you are looking cash producing apartment complex that is over 50% occupied, then look no further! Producing over $3,800 in rent a month right now, at max rental occupancy, you will be looking at over $7,000 a month for a total of over $94,044 GCI at a 12.5% cap rate before expenses! This property features 10 one bed one bath units! Each unit features beautiful new floors, tons of natural lighting and spacious bedrooms! Property management is estimating to have all units tenanted by the end of April. Mechanics are also new including the hot water tanks, boiler system and updated electric throughout the entire complex! All it is missing is its new owner! POS to be ordered upon executed contract and buyer to assume POS violations. Mix and match! This property can be purchased individually wiith 684-03-006, 684-03-033 or all 3 for $2,000,000.Hurry! This property won't last long!

Highlights
  • Annual Tax: $ 19184.0
  • Water: Municipal Water
  • Heating Fuel Type: Hydro Heat
  • Sewer: Public
  • Heating Type: Steam Heat
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Listing ID: 2ea09fbf-1300-4279-a801-af20972020c0
Location
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