3183 W 46th Street
Cleveland, OH 44102

Listed at $175,000

Details

  • MLS# 5180847
  • Multi Unit - Multiple
  • Status Pending
  • 10 Bedrooms
  • 4 full 1 partial Bathrooms
  • 4,745 Square Feet
  • 0.145 acres
  • Built in 1880
  • Cleveland Municipal - 1809 Local Schools
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Description

Cash-Flow Opportunity Stabilize & Collect Massive 4,700 sq ft quadplex with additional flex space + half bath and a bonus extra lot included ? all offered at $175,000. Unit mix: ? 2 Three-bedroom / 1 bath units ? 2 Two-bedroom / 1 bath units ? Lower-level flex space with half bath (additional income potential) After approximately $100K in cosmetic improvements and cleanup, this property has projected gross rents of nearly $70,000 annually at current Section 8 payment standards (3BR ?? $1,638/mo; 2BR ?? $1,276/mo). Pro forma NOI projects around $50K annually once stabilized, representing an approximate 18% cap rate based on total investment. Mechanicals...read more are solid. Structure is strong. Value-add investors ? this is the type of asset that builds long-term portfolio strength. Extra lot provides additional flexibility and future opportunity.SOLD AS-IS. Bring your contractor and your numbers. Opportunities with this scale and return profile at this price point move fast.NO SELLER FINANCING

Features

  • None
  • Forced Air
  • 2.0 Stories
  • $2,661 / year Taxes
  • Public
  • Built in 1880
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All Property Features

  • Property Type: Multi Unit - Multiple
  • Basement: Yes
  • Basement: Unfinished
  • Cooling: None
  • Days on Site: 7
  • Exterior: Vinyl Siding
  • Heating: Forced Air
  • Lot Size: 0.15 Acres
  • Parcel#: 016-14-064
  • Parking: On Street
  • Roof Type: Asphalt, Fiberglass
  • Sewer: Public Sewer
  • Stories: 2.0
  • Taxes: $2,661 / year
  • Water: Public
  • Year Built: 1880