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 all seven units currently rented, the building is already generating great income! 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, the building will operates at over 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.

Based on information submitted to MLS Now as of September 10, 2024 11:33 PM 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.

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Property Details of 5917 Storer Avenue

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Don Petrasek

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Property Details of 5917 Storer Avenue

Exterior Features

Exterior Features

Utilities and Appliances

Utilities and Appliances

Community

Schools

Other Details

Water

Map Location

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