Turnkey properties
5601 Northcliff Ave, Cleveland, OH 44144
SOLD
4 Bed | 2 Bath | 2,052 Sqft
Purchase Price $235,000.00
| Property Type | Cap Rate | Cash on Cash Return |
|---|---|---|
|
Multi-Family |
7% |
7% |
| Current Status | Current Rent | Lease Term | Utilities |
|---|---|---|---|
|
Up Unit: Vacant |
$1,150/Month |
|
Tenant Pays Gas & Electric |
|
Down Unit: Short Term Rental |
$95/Night |
Major updates completed:
– New roof on house and garage
– New garage doors (2)
– Stabilized foundation with installation of steel posts
– Full exterior grading and landscaping
– Professional exterior paint – two tone color
– New concrete driveway, service walk and rear patio
– Rebuilt rear balcony and posts
– New HVAC (2 furnaces)
– New hot water heaters (2)
– Updated electrical panels/breakers and exterior service
– New interior and exterior lights
– New switches/outlets/fixtures
– New plumbing in both units – including drain lines down to basement
– Completely refinished hardwood flooring in both units
– New kitchens in both units – cabinets, granite countertops, LVP flooring, fixtures, backsplash
– New stainless steel appliances in both units
– New bathrooms in both units – tile surround, vanities, faucets, fixtures, exhaust fans, toilets
– Completely furnished lower unit for short term rental use
– New lock sets, hardware, venting, etc.
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.Â
Cash and conventional financing. Referrals for lenders available upon request.
$1,000 seller credit toward interest rate buy down.