1502-1500 Coventry RD Active Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44118
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Apart Rlty
MLS Listing ID 5060848
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1946
Annual Tax Amount $28,393
Tax Year 2023
Lot Size 0.730 Acres
Acres 0.73
Property Description
CALLING ALL INVESTORS looking to expand their investment portfolio! If you are looking for a turnkey apartment complex then look no further! This property features 22 units (4 which are 1 bed/bath and 18 which are 2 bed/1bath.) All units are completely renovated, turnkey and are immediately ready for tenants! This building is currently being used as a sober living facility so it does not have any running financials records for rents. Current comparable apartment rents in the area range from 1,000-1,200 a unit.
Proforma gross income can be projected at a conservative amount of $26,000. This would put your gross rental income at $312,000 a year, which gives you a 15.6% cap rate before expenses! This will not last long! It's in close proximity to RTA transportation, freeway access, restaurants, hospitals, the Cleveland Heights community center, and is close to downtown Cleveland! Do not miss this opportunity today! Schedule your showing!
Location
State OH
County Cuyahoga
Rooms
Basement Unfinished
Interior
Heating Hot Water,Steam
Cooling None,Window Unit(s)
Fireplace No
Exterior
Garage Parking Lot,On Street
Water Access Desc Public
Roof Type Composition,Shingle
Present Use See Remarks
Parking Type Parking Lot,On Street
Building
Foundation Basement
Sewer Public Sewer
Water Public
Construction Status Updated/Remodeled
Schools
School District East Cleveland Csd - 1812
Others
Tax ID 672-26-001
Special Listing Condition Standard