3296-3300 E 149th St - Apartments FOR SALE


Cleveland, OH 44120- Mount Pleasant
$1,300,000 USD
440-261-4375
3296-3300 E 149th St, Cleveland, OH for Sale
$1,300,000 USD
Apartments - FOR SALE
1/15
null | 9.51% Cap Rate

3296-3300 E 149th St
Cleveland, OH 44120
Mount Pleasant


OVERVIEW

Outstanding investment opportunity - add two fully renovated, high-income-producing apartment buildings to your portfolio. Together, these properties generate over $17,000 in monthly gross rental income. There is potential for even higher market rents, as the buildings house brand new tenants who moved in after the 2023 renovations. Enjoy a tax abatement on the property until 2038. Each building, completely updated in 2023, includes a tenant-operated, app-based laundry facility and individually metered units. Situated in Cleveland, a city with robust rental demand driven by its diverse economy and expanding healthcare and tech sectors, these properties are an ideal investment in a cost-effective and promising rental market. Capitalize on this chance to invest in one of the Midwest's most attractive rental markets. Current buildings are equipped with a property management team to ensure a seamless, hands-off ownership transition, if necessary for the buyer.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$78 USD /SF

# OF UNITS

22

PRICE/UNIT

$59,091

CAP RATE

9.51%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

2F

APN/PARCEL ID

130-18-121,130-18-122

ASK ABOUT THIS PROPERTY

Violetta VarenkovaIIP ManagementMore Info
440-261-4375

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Violetta VarenkovaIIP ManagementMore Info
440-261-4375

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.