10730 Orville Ave Cleveland, OH

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Home For Sale In Cleveland, Ohio

Price: $325,000
Address: 10730 Orville Ave
City: Cleveland
State: OH
Zip:
Bathrooms: 4
Bedrooms: 10
Condition: Resale
Fee: No
Provided By: RealtyWW

Description:

Owner is motivated to get a deal done on this 4 unit 2 story walk up APT building. The Building has been maintained and in the current owners possession for over 16 years. Bring this product to fame right along with the other newer developments in the surrounding area. The APT consists of 4-3 bd. units avg. 1200 sf each unit. Rental Income is $2650/mth. Occupancy 100% MTM tenants. Netting $24k annually. Increase the bottom line with the right strategy and updates. Room to + 2 add'l units in basement. Current rent rate per sq is around.50 cents. Class A structures rental rates are around $2-3 per sq. W/list price of $325k, the subject property has achieved double digit returns annually on a consistent basis which supports a 7% Cap Rate. W/improvements, projected returns can bring you 12%+ Cap Rate. Owner has made improvements to the APTS that feature newer ceramic tile shower surrounds, vinyl flooring in kitchen and baths, newer fixtures throughout, newer cabinetry, laminated counters in 2 of 4 kitchens.

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