3425 E 128th Street presents a 9,000-square-foot brick building on a quiet street across from a church in the Mt. Pleasant neighborhood of Cleveland, OH. The 10-unit multifamily building is rehab-ready to tap into its immense value-add potential. Most walls, floors, and doors are in good condition, but much work is needed to return this asset to its former glory. A (now) repaired leak in the roof has led to some framing work. Needs plumbing, kitchens, baths, furnaces, and hot water tanks are needed. The property has electricity, but the central meter bases need upgrading. The property has been valued to assume about $250k in rehab. 100 new windows have been ordered, about 20 have been installed and will be included in price. Great rental area property should gross about 120 a year when cash flowing
This cash-cow property is a great asset with untapped potential. The current owner is a contractor but has too many other projects, so they will reluctantly part with the asset.
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