OH > Cleveland > Daniel Hoyts Re-Allotment
Cleveland, OH 44102,5917 Storer AVE
Cleveland, OH 44102,5917 Storer AVE
Cleveland, OH 44102,5917 Storer AVE
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$444,900
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5,349 Sqft Lot
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5917 Storer AVE Cleveland, OH 44102

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John Sambuco

John Sambuco

+1(740) 391-9009

UPDATED:

10/16/2024 11:56 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Daniel Hoyts Re-Allotment

MLS Listing ID 5045202

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1910

Annual Tax Amount $5,974

Tax Year 2023

Lot Size 5,349 Sqft

Acres 0.1228

Property Description

Discover this 7-unit brick building located on the desirable westside of Cleveland. The property boasts a mix of updated units featuring modern vinyl flooring, fresh paint, and various cosmetic enhancements. This building includes five spacious 2-bedroom units, one cozy 1-bedroom unit, and one studio apartment. Each unit is equipped with separate furnaces and hot water tanks, ensuring tenants are responsible for their own electric and gas, reducing your overhead costs. Currently fully occupied, this property offers great current earnings with an IMPRESSIVE proforma. By implementing minor rent increases, you can easily elevate the property to achieve a 10% cap rate. As it stands, the building will operates at over a 9% cap rate, presenting an attractive return on investment. Seize the opportunity to invest in a property that not only provides immediate income but also holds significant potential for future value enhancement.

Location

State OH

County Cuyahoga

Rooms

Basement Partial

Interior

Heating Forced Air, Gas

Cooling None

Fireplace No

Exterior

Garage On Site, Paved

Water Access Desc Public

Roof Type Composition,Flat

Present Use Residential

Parking Type On Site, Paved

Building

Story 2

Sewer Public Sewer

Water Public

Construction Status Updated/Remodeled

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 016-16-025

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687

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John Sambuco

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+1(740) 391-9009

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