12 Suite Apartment Building

17703 Libby Road, Maple Heights, OH

   SOLD!   

$980,000

Price

5.9%

Cap Rate

9,192 sqft

Building Size

Gallery
Street
Map
Overview
Cap Rate
5.9%
Building Size
9,192 sqft
Lot Area
11,200 sqft
Units
12
Class
B
Occupancy
100%
Zoning
Apartment
Price Per Sqft
$107
Year Built
1958
Floors
3
Parking Spots
8
Year Last Renovated
2019
Construction Status
Finishing
Roof
5 years
HVAC
Wall Units
Floor
2.5
Restrooms
12
CeilingHeight
9
Description

12 Suite All Brick Exterior Suburban Apartment Building with Attached Parking Garage with Auto Opener. Nine Apartments have been Freshly Remodeled. Inside Common Area recently Painted and New Flooring. Each Apartment comes with a Stove and Refrigerator. All Apartments have Separate Gas and Electric Meters, Separate Furnaces and 11 through the wall Air Conditioners, 5 Year New Hip Roof with Dimensional Shingles, There are 3 Levels with 4 Apartment Units per Floor. Laundry Area Equipped with New Coin Operated Clothes Washer and Dryer . Each Unit comes with a private Keyed Mail Box.
Bus Stop at next corner at Cato Street, Fire Escape at Rear of Building.
Additional Income Potential ( Garage Space Rentals adds an extra $50 per month )
Apartment #3 is traded for Maintenance,
Additional Income Potential:
( 5 Garage Spaces Rented at $50 per space per month. ) 3 Garage Spaces Available to Rent
( If New Owner is proactive they can handle doing your own Maintenance $800.and Management $800. you will gain $1600. per month )
( Rents can be increase on Legacy to $700/month for 1 Bedroom Units and $800/month for 2 Bedroom Units )
( Coin Operated Washer and Dryer adds approx. $50.00 per month income )

Highlights
  • New Roof ( 5 Years )
  • All Apartments Remodeled Except Legacy Units
  • Common Areas Recently Painted and New Flooring
  • Maintenance Man Lives in Building
  • All Brick Exterior
  • Bus Stop at the Next Corner Very Close to Building
Location
Gallery