Vision Sales Team

1947-1949 Coltman

Cleveland , OH 44106

MLS#: 4472439

$850,000

Status: Closed
Listing number: 4472439
Listing provided by: Russell Real Estate Services
Listing agent phone: None
Last update: 1 year, 8 months ago
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Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1900

Sq.Footage

8,091

Extremely rare opportunity to own TWO neighboring, income producing fourplexes in the heart of Little Italy! This 8 unit portfolio is ideal for an investor to gain instant scale with 8 apartments in one of the most desirable and growing neighborhoods of Cleveland. The properties are currently grossing $7,285 at 100% occupancy as of 9/1. A savvy investor can easily increase rents as leases come due, or complete strategic cosmetic renovations on the interiors of the units to fetch top dollar rents in the area and have this portfolio grossing $9,000 per month in the future. The two buildings share a driveway as well as parking in the back, allowing for management efficiencies due to proximity. Both properties are beautifully built, brick construction & contain various floor plans including a studio apartment, one bedroom units and two bedroom units (see rent roll for full breakdown). There are two covered garage spots as well as room for additional cars in the lot. Garage also has additional covered storage space. Parking income can easily be increased as off street parking in the area is in high demand. Both properties have had all windows replaced with vinyl, solid mechanicals and roofs with significant life left in them as well as other capital improvements including appliance replacements and unit updates. 1949 contains coin-op laundry for use by tenants (laundry cost also has never been increased & can be).

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Above Grade Finished Area

    8091.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    N/A

  • Heating YN

    YES

  • Heating

    Natural Gas, Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    On Site, Outside, Paved, On Street

  • Pool

    No

Area & Lot

  • Property Type

    Commercial Sale

  • Property Sub Type

    Apartment

Price

  • Sales Price

    $850,000

  • Tax Amount

    9735.0

  • Sq. Footage

    8, 091

  • Price/SqFt

    $105

HOA

  • Association

    No

School District

  • Elementary School

    Cleveland Municipal - 1809

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Sewer

    Public Sewer

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Location

County

Cuyahoga

Elementary School

Cleveland Municipal - 1809

Middle School

High School

Listing Courtesy of Tal Tamir , Russell Real Estate Services

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Agent JeffHelfrich

AGENT

JeffHelfrich

Call Jeff today to schedule a private showing.

(330) 557-2951

JeffHelfrich@VisionSalesTeam.com


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Extremely rare opportunity to own TWO neighboring, income producing fourplexes in the heart of Little Italy! This 8 unit portfolio is ideal for an investor to gain instant scale with 8 apartments in one of the most desirable and growing neighborhoods of Cleveland. The properties are currently grossing $7,285 at 100% occupancy as of 9/1. A savvy investor can easily increase rents as leases come due, or complete strategic cosmetic renovations on the interiors of the units to fetch top dollar rents in the area and have this portfolio grossing $9,000 per month in the future. The two buildings share a driveway as well as parking in the back, allowing for management efficiencies due to proximity. Both properties are beautifully built, brick construction & contain various floor plans including a studio apartment, one bedroom units and two bedroom units (see rent roll for full breakdown). There are two covered garage spots as well as room for additional cars in the lot. Garage also has additional covered storage space. Parking income can easily be increased as off street parking in the area is in high demand. Both properties have had all windows replaced with vinyl, solid mechanicals and roofs with significant life left in them as well as other capital improvements including appliance replacements and unit updates. 1949 contains coin-op laundry for use by tenants (laundry cost also has never been increased & can be).

1947-1949 Coltman

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