Listing Tools

Listed by Tal Tamir of Russell Real Estate Services (tal@premierclevelandinvesting.com 216-870-8687)
Discover this 7-unit brick building located on the desirable westside of Cleveland. The property boasts a mix of updated units featuring modern vinyl flooring, fresh paint, and various cosmetic enhancements. This building includes five spacious 2-bedroom units, one cozy 1-bedroom unit, and one studio apartment. Each unit is equipped with separate furnaces and hot water tanks, ensuring tenants are responsible for their own electric and gas, reducing your overhead costs. With six out of seven units currently rented, the building is already generating income. The vacant unit is actively being marketed internally to EDEN voucher holders. This property offers great current earnings with an impressive proforma. By implementing minor rent increases, you can easily elevate the property to achieve a 10% cap rate. As it stands, once the vacant unit is occupied, the building will operate at nearly a 9% cap rate, presenting an attractive return on investment. Seize the opportunity to invest in a property that not only provides immediate income but also holds significant potential for future value enhancement.

Property Details of 5917 Storer Avenue

Exterior Features

Utilities and Appliances

Community

Other Details

Map Location

Based on information submitted to MLS Now as of June 20, 2024 11:35 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. Listing information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

I agree to be contacted by the Howard Hanna | Don Petrasek via call, email, and text. To opt out, you can reply 'stop' at any time or click the unsubscribe link in the emails. Message and data rates may apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hi there! How can we help you?

Contact us using the form below or give us a call.

Send Us A Message:

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

$

Do not fill in this field:

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.