3425 E 128th St - Apartments FOR SALE


Cleveland, OH 44120- Mount Pleasant
$290,000 USD
800-993-1637
3425 E 128th St, Cleveland, OH for Sale
$290,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

3425 E 128th St
Cleveland, OH 44120
Mount Pleasant


HIGHLIGHTS

  • 3425 E 128th St is home to a 10-unit multifamily building delivered vacant to the market and in rehab-ready condition to tap into upside potential.
  • Nestled in great residential location that is in the quiet neighborhood of Mt. Pleasant.
  • The property has low taxes and expenses and modern improvements will enable stabilized occupancy and market-rate rent opportunities.
  • Each unit averages 900 square feet and has a kitchen, tub/ shower bath, living room/ dining room, and bedroom.

OVERVIEW

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 and plumbing, and the kitchens, baths, furnaces, and hot water tanks require repairs. The property has electricity, but the central meter bases need upgrading. The property has been valued to assume about $200k in rehab. 100 new windows have been ordered, about 20 have been installed and will be included in price. 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. Inquire today for more property, rehab, and proforma information.

FOR SALE DETAILS

PRICE

$290,000 USD

PRICE/SF

$32 USD /SF

# OF UNITS

10

PRICE/UNIT

$29,000

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rehab-Ready Multifamily

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

130-23-078

ASK ABOUT THIS PROPERTY

Kevin KleinKevin KleinMore Info
800-993-1637

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Kevin KleinKevin KleinMore Info
800-993-1637

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