4578 E 131st St - Apartments FOR SALE


Garfield Heights, OH 44105
$879,900 USD
216-870-8687
4578 E 131st St, Garfield Heights, OH for Sale
$879,900 USD
Apartments - FOR SALE
1/15
null | 9.27% Cap Rate

4578 E 131st St
Garfield Heights, OH 44105


OVERVIEW

100% occupied, cash flowing 12 unit complex with value-add upside! This newly updated 12 unit deal is perfect for the investor looking for solid, stable cash flow day 1, while still having easy value-add upside available through basic cosmetic updates and organic rent bumps! Currently 100% occupied, grossing $10,740 in rent per month, an investor will walk into nearly a 9.5% cap rate AS IS. Proforma, a savvy buyer will easily achieve $12,500+ per month in gross rent, with the ability to implement parking fees and on-site coin operated laundry for additional income! The unit mix is ideal - boasting (8) two bedroom units and (4) one bedroom units. (6) of the (12) total units have been totally remodeled including updated kitchens with granite countertops and new appliances, updated flooring including vinyl plank and new carpet, updated bathrooms with tiled shower surrounds and new vanities, as well as updated lighting throughout and completely refreshed common areas. In addition, there are a number of new furnaces and wall unit AC's that have been installed, as well as a new parking lot, painted and refreshed garages, two completely new roofs installed in 2025, new carpet, paint and lighting in the hallways, and new exterior entry doors, and new common how water tanks! Tenants are responsible for gas and electricity, while the owner pays water/sewer/trash and common area electricity and gas. A number of tenants are currently month to month as well, allowing a buyer to quickly start implementing their business plan.

FOR SALE DETAILS

PRICE

$879,900 USD

PRICE/SF

$73 USD /SF

# OF UNITS

12

PRICE/UNIT

$73,325

CAP RATE

9.27%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4578 E 131st St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

15,987 SF

ZONING

U-3

APN/PARCEL ID

546-35-100

ASK ABOUT THIS PROPERTY

Tal TamirRussell Real Estate ServicesMore Info
216-870-8687

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

Tal TamirRussell Real Estate ServicesMore Info
216-870-8687

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