3584 W 46th ST Active

Cleveland,OH 44102

$ 2866100

- Bed

0 Bath

0 SqFt


Key Details

Property Type Commercial

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Brooklyn

MLS Listing ID 5089683

HOA Y/N No

Year Built 1920

Annual Tax Amount $31,433

Tax Year 2023

Lot Size 4,443 Sqft

Acres 0.102

Property Description

This exceptional 22 investment property package offers an incredible opportunity to capitalize on Cleveland's resurgence. Nestled in the vibrant Near West Side, this portfolio boasts a diverse mix of well-maintained homes, providing stable income and significant upside potential.
Why Cleveland?
• Affordable Investment: Cleveland offers competitive property values compared to other major cities, making it an attractive market for investors.  
• Resurgent City: Cleveland is experiencing a revitalization with a thriving arts scene, world-class museums, and a growing culinary scene.  
• Strong Rental Demand: A growing population and job market drive consistent demand for quality rental housing.
• Diverse Property Mix: This package includes a variety of property types to suit your investment strategy.
Key Features:
• 35 Total Units: A substantial portfolio to generate significant rental income.
• Prime Location: Situated in the desirable Near West Side, close to amenities and transportation.
• Well-Maintained Properties: The units are in good condition, minimizing maintenance costs.
• Stable Tenancy: Many long-term tenants ensure reliable cash flow.  
• Upside Potential: Opportunities for value-add renovations and increased rental rates.
CAP RATE – 8.25%
Current NOI with anticipated 2024 pay in 2025 property taxes - $236,441.52
Multiple units have extremely low rents, with increased rents, and a management agency, the Cap Rate has a potential of 11.32%.
After Repair Value - $3,854,030
Don't miss this chance to invest in Cleveland's exciting future. Contact me today to learn more about this exceptional investment opportunity.
Portfolio consists of 14 Single Family homes, 5 Duplexes, 1 Triplex, and 2 Fourplexes.
Do not disturb tenants, do not walk properties. Inspections upon accepted offer only!
Find the video w/ aerials online, or ask your agent for a link.

Location

State OH

County Cuyahoga

Rooms

Basement Full,Unfinished

Interior

Heating Forced Air

Fireplace No

Exterior

Parking Features Driveway,Detached,Garage,No Garage,Off Street,Paved,On Street,See Remarks,Varies by Unit

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Present Use Investment,Multi-Family,Residential,Single Family,See Remarks

Garage false

Building

Sewer Public Sewer

Water Public

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 016-24-027

Acceptable Financing Cash,1031 Exchange

Listing Terms Cash,1031 Exchange

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