Turnkey Properties
$1,600,000
Property Overview
- Property Type: COMMERCIAL PROPERTY
- 20 Units (9 1-bed & 11 Studio)
- 1 Garage
Additional Information
- Cap Rate: 3%
- Current Rent: $16,350
- Cash on Cash Return: 4.99%
- Current Status: Partially Occupied
- Lease Term: -
- Utilities: Tenant Pays Electric
Sold
Renovations
Major Renovations:
– New Flat Roof
– Restored Parking Lot with New Lines
– Professional Landscaping
– Professionally Installed Vinyl Windows
– New Commercial Door
– New Common Area Furniture (Will Stay with the Property)
– New LVP Flooring Throughout
– Fresh Paint Throughout
– New Fixtures Throughout
– Full Electrical Upgrade, $50,000 in Electrical Work
– All Units Upgraded from Top to Bottom
– Upgraded Kitchens
  – New granite countertops
  – New Backsplash
  – New Cabinets
  – New Fixtures
  – New dishwasher, stove, fridge
– Updated Bathrooms
  – New fixtures
  – New Vanities
  – Custom Tile
– Upgraded Laundry Area
– New HVAC
– New Boiler
– New Hot Water Tank
– New Window AC Units
Pro Forma
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Property Management
Our property management division, RE/MAX Haven Property Management, manages a portfolio of thousands of properties in the Cleveland & Akron areas. We specialize providing a worry-free property management experience. With over 30 full time employees, we offer dedicated service departments for maintenance, city/utility liaison, tenant support and marketing.
Buying Options
Cash and most financing (including DSCR, SDIRA, etc.). Referrals for lenders available upon request.
