UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,260 sqft
Price per Sqft $55
Subdivision Adams Realty Companys 04
MLS Listing ID 5218533
Bedrooms 8
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 3,260
Year Built 1918
Annual Tax Amount $1,513
Tax Year 2025
Lot Size 4,678 Sqft
Acres 0.1074
Property Sub-Type Triplex
Property Description
Triplex-style multifamily with a full rehab completed across the property, one unit already occupied, and two oversized 3 bed / 1 bath units ready for lease-up. The rehab included major work such as main roof replacement, new furnaces and hot water tanks, interior paint, drywall repairs, kitchen/bath updates, flooring, lighting, doors/locks, and other improvements.
The occupied unit is the smaller top-floor 2 bed / 1 bath unit with 635 sqft, currently rented at $700/month and income-producing, providing immediate rental income. The two vacant 3BR units are significantly larger, with 1,335 sqft and 1,290 sqft, and have not been occupied since the rehab work was completed. Estimated rents for the two vacant 3BR units are $1,200–$1,300/Mo each based on nearby 3BR comps and property management feedback.
Prior appraisal documentation showed a $190,000 appraised value and confirmed the prior scope of work was completed per inspection. Seller can provide appraisal completion documentation and rehab work summary to serious buyers.
Final plumbing item remaining, quoted by vendor at approx. $3,335. Seller has already completed the major rehab, and unit prep, absorbing the time, cost, and execution risk of the heavy work. The next investor can step in, button up the final item, move directly into lease-up of the two large vacant 3BR units, and move toward a cash-flowing rental property. Seller-provided investment analysis shows $1,000+/month projected cash flow under sample financing and expense assumptions.
Supporting documentation available to serious buyers upon request, including full detailed investment analysis with cash-flow model, expense assumptions, cap rate/DSCR/return metrics, rental comps, appraisal documentation, and completed rehab work summary.
Location
State OH
County Cuyahoga
Rooms
Basement Partial
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Exterior
Parking Features Detached, Garage
Garage Spaces 4.0
Garage Description 4.0
Water Access Desc Public
Roof Type Shingle
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 110-12-030
Special Listing Condition Standard
Nearby Locations
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Zachary Underwood
Broker | License ID: BRKP.2014000258
Broker License ID: BRKP.2014000258