6118 Ridge Rd - Apartments FOR SALE


Parma, OH 44129
$560,000 USD
330-233-2090
6118 Ridge Rd, Parma, OH for Sale
$560,000 USD
Apartments - FOR SALE
1/1
null | 5.2% Cap Rate

6118 Ridge Rd
Parma, OH 44129


OVERVIEW

Don't miss the opportunity to own this 6 Unit Muiti-family building in a prime location for rental income! Located in Parma, Ohio -10 minutes from Downtown Cleveland, great neighborhood for renters, low maintenance building with brick exterior and recently updated driveway and parking pad. Basement with coin laundry for additional income. Great rental income growth potential verse comparables in area! All units have been maintained by the current owner. Professionally cleaned/painted after each tenant. Updated electrical boxes, hot water tank, double pane windows, and appliances upgraded between tenants. Very low vacancy rate! This is a gem for any investor! Unit Mix: 5 - Units- l Bedroom, l Bath, approx. 500 sq ft. l Unit - Efficiency, 1 Bath, approx. 350 sq ft. Owner pays common area gas & electric, pays all water, sewer, garbage, and snow removal. Charges pet fees and coin laundry.

FOR SALE DETAILS

PRICE

$560,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

6

PRICE/UNIT

$93,333

CAP RATE

5.2%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parma 6 Unit

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1945

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,309 SF

ZONING

-

APN/PARCEL ID

449-12-005

ASK ABOUT THIS PROPERTY

Halle RahzCentury 21 Home Star RealtyMore Info
330-233-2090

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

Halle RahzCentury 21 Home Star RealtyMore Info
330-233-2090

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