3568 E 118th Street
Cleveland, OH 44105

Listed at $76,500

Details

  • MLS# 5187749
  • Multi Unit - Multiple
  • Status Active
  • 4 Bedrooms
  • 2 full Bathrooms
  • 2,200 Square Feet
  • 0.115 acres
  • Built in 1920
  • Cleveland Municipal - 1809 Local Schools

Description

Investor-friendly buy & hold opportunity at 3568 E 118th St, Cleveland, OH 44105. This 4-bedroom, 2-bath, 2,200 SQFT duplex is tenant-occupied (month-to-month) and offers light rehab potential with an estimated $1218K needed post-vacancy. Built in 1920, the property features separate furnaces (no central AC), 2 newer water heaters, and no major plumbing or electrical issues reported. With an ARV of $135,000, providing ~$35000 in built-in equity. Current rent is $650/month downstairs, with market rent projected at $1,150$1,250/month, offering an estimated cash flow of $300$400/month/ unit and a 1520% cash-on-cash return. Light cosmetic updates...read more and turnover work will position this property for long-term rental success in the 44105 market.

Features

  • Range
  • Refrigerator
  • Ceiling Fan(s)
  • Forced Air, Gas
  • 3.0 Stories
  • $1,636 / year Taxes
  • Public
  • Built in 1920
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All Property Features

  • Property Type: Multi Unit - Multiple
  • Accessibility: None
  • Appliances: Range, Refrigerator
  • Basement: Yes
  • Basement: Full, Unfinished
  • Community Features: Curbs, Laundry Facilities, Medical Service, Playground, Park, Shopping, Street Lights, Sidewalks
  • Cooling: Ceiling Fan(s)
  • Days on Site: 21
  • Exterior: Frame
  • Exterior Features: Balcony
  • Fencing: None
  • Garage: 2
  • Heating: Forced Air, Gas
  • Interior Features: Built-in Features, Ceiling Fan(s), Eat-in Kitchen
  • Laundry: Washer Hookup, In Basement
  • Lot Description: City Lot, Flat, Level
  • Lot Size: 0.11 Acres
  • Parcel#: 137-01-061
  • Parking: Detached, Garage Faces Front, Garage, Off Street
  • Patio/Porch: Balcony
  • Roof Type: Slate
  • Sewer: Public Sewer
  • Stories: 3.0
  • Taxes: $1,636 / year
  • Water: Public
  • Year Built: 1920