563 E 118th St - Apartments FOR SALE


Cleveland, OH 44108- Forest Hills
$550,000 USD
513-240-2764
563 E 118th St, Cleveland, OH for Sale
$550,000 USD
Apartments - FOR SALE
1/32
null | 15.85% Cap Rate

563 E 118th St
Cleveland, OH 44108
Forest Hills


OVERVIEW

12 unit apartment building, out of which 11 units are rented. The 12th unit is used as a storage currently. Out of 11 units rented, there are 8, 1BR, 1BA units and 3, 2BR, 1BA units. A solid brick building with porches in the front and back. On bus lane and the stop is right next to the building. High visibility and easy to rent. Several improvements including over 80 windows replaced. New kitches and bathrooms in some units. 2 new furnaces and 9 new water heaters. Roof is original but two sections were treated with elastomeric coating. Lead certified by the city until July, 2027.

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$53 USD /SF

# OF UNITS

11

PRICE/UNIT

$50,000

CAP RATE

15.85%

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1913

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

APTS 7-19

APN/PARCEL ID

111-05-006

ASK ABOUT THIS PROPERTY

Srini KaranamLester ApartmentsMore Info
513-240-2764

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Srini KaranamLester ApartmentsMore Info
513-240-2764

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