Turnkey Properties
$259,900
Property Overview
- Property Type: Fourplex
- 4 Units: 2 Bed
- 1,047 Sqft Each
- 1 Bath
- 1 Garage
Additional Information
- Cap Rate: 11%
- Current Rent: $3,200
- Cash on Cash Return: 23%
- Current Status: Vacant
- Lease Term: -
- Utilities: Tenants Pay Gas/Electric
Sold
Renovations
Major updates completed:
– Roof – 2018 – new rubber rolled roofing
– All windows replaced – 2018
– 3 hot water heaters replaced in the last 5 years
– 2 furnaces replaced in the last 3 years
– Front commercial door
– Updated electrical panels – 100 amp panels
– Updated electrical meter bases and service
– New asphalt driveway and parking lot – 2019
– New apron and sidewalks – 2019
– Cap and screen on chimneys – 2021
– New exterior lights
– New common area lights
– Common area improvements – LED Lights, vinyl plank flooring, railings and paint
– Units renovated – flooring, light fixtures, paint, vanities, fixtures, etc.
– Professional landscaping
– Unit #1 just completed full renovation
  – New vinyl plank flooring
  – Granite countertops
  – Updated bathroom with custom tile surround, paint, fixtures, lights, etc.
– New appliances in unit #1 2023
– HVAC serviced – 2023
– New commercial gutters/downspouts – 2022
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.
$1,000 seller credit toward interest rate buy down.
