Listed By
Agency Name: Berkshire Hathaway HomeServices Professional Realty
Agency Contact: shakerheightsrealtor@gmail.com, 503-806-6517
Shown By
Agency Title: Cutler Real Estate
Agency Phone: 888-763-7575
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Property Description
Cash-Flow Opportunity Stabilize & Collect Massive 4,700 sq ft quadplex with additional flex space + half bath and a bonus extra lot included ? all offered at $175,000. Unit mix: ? 2 Three-bedroom / 1 bath units ? 2 Two-bedroom / 1 bath units ? Lower-level flex space with half bath (additional income potential) After approximately $100K in cosmetic improvements and cleanup, this property has projected gross rents of nearly $70,000 annually at current Section 8 payment standards (3BR ?? $1,638/mo; 2BR ?? $1,276/mo). Pro forma NOI projects around $50K annually once stabilized, representing an approximate 18% cap rate based on total investment. Mechanicals are solid. Structure is strong. Value-add investors ? this is the type of asset that builds long-term portfolio strength. Extra lot provides additional flexibility and future opportunity. SOLD AS-IS. Bring your contractor and your numbers. Opportunities with this scale and return profile at this price point move fast. NO SELLER FINANCING
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Unfinished
Cooling: None
Heating: Forced Air
Lot Size: 0.15 Acres
Roof Type: Asphalt, Fiberglass
Stories: 2.0
Taxes: $2,661 / year
Year Built: 1880
Feature Descriptions
Exterior: Vinyl Siding
Parcel#: 016-14-064
Parking: On Street
Sewer: Public Sewer
Water: Public
Local Schools
School District: Cleveland Municipal - 1809
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Estimated Payment
$ 1,126.62 per month $853.83 Principal & Interest $221.75 Property Tax $51.04 Homeowner's InsuranceChange Payment Information
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3183 W 46th Street | MLS# 5180847
This multi-family property located at 3183 W 46th Street, Cleveland, OH 44102 is currently listed for sale with an asking price of $175,000. W 46th Street is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on www.cutlerhomes.com today.