3250 E 49th Street

Highlights:

• Average Occupancy Rate: 83.0
• Age: Over 50 Years Old
• Area Description: Metropolitan
• Exterior Description: Brick
• General: Laundry Facilities
• Sewer: Public
• Water: City Water

Description:

Prime Investment Opportunity – 12-Unit Brick Apartment Building in Historic Slavic Village, Cleveland. Seize this exceptional investment opportunity in this solid three-story, all-brick 12-unit apartment building features (10) one-bedroom and (2) two-bedroom apartments in historic Slavic Village, Cleveland. 10 of 12 units have been renovated within the last 18 months. Seller purchased, vacated the majority of the building, completing approximately $200k in repairs, turns and updates in 2023 & 2024 and is ready to hand it to it's new owner. Current ownership engaged professional management services, helping to stabilize the building. Management co is happy to continue. The building is compliant with City of Cleveland requirements in rental registration and lead safety. Location is ideal - minutes from Downtown Cleveland, with easy access to public transportation, nearby other affordable housing opportunities, and in close proximity to the Slavic Village Redevelopment project. Both on and off street parking options are available. Tenants pay electric, owner pays water/sewer/trash/gas/common areas electric. With a strong rental demand and a professionally managed operation, this property is positioned for long-term cash flow and appreciation.

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