Property Description

Located just minutes to Cleveland's downtown business district, south of Cleveland's Lakewood and Detroit Shoreway districts. This asset is conveniently located within walking distance to bus / rail, with easy access to I90 and I71 for ease of commute. This well maintained all brick 2- story low rise is located at a high visibility / high traffic count corner offering desirable pedestrian traffic for retail and bus stops right outside. for tenant transportation. This property boasts: 17) units total: 5) main level high visibility retail units, and 12) residential. Unit mix as follows: 4) 2 bed/1bath, 7) 1 Bed/1 bath, 1) studio/1 bath and 5) retail (Retail Tenants are stable, have been in place and well established). CAP rate operates at 7.0% As Is, with proforma at 9% with small adjustments. Stable / consistent occupancy history. NOTES: - Parking: 12 spaces, with security lighting and camera system - at the rear for private / secure off street parking for tenant value add that shows up in rent! - Laundry: On site laundry is provided w/ coin op in basement. - Management: Currently professionally managed and would stay on as desired / needed. - Updates: Cosmetics reno includes - Common area renovations: fresh paint, doors, walls, halls and entries, all new LED lighting added for energy saving and contemporary / modern feel. - Boiler: Professionally scheduled and maintained, offers auto feeder and low water shut off, Techmar thermostat management.

Property Features

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