Cleveland OH 58 units

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58 UNIT APT. BUILDING

15800 EAST EUCLID AVE.

CLEVELAND, OH 44112 58 UNITS – 2 BEDS – 1 BATH EA. UNIT

$225,000 plus 3% buy side fee

BURNETT APARTMENTS

PriceN/AProperty Use TypeInvestment
No. Units58No. Stories3
Building Size39,649 SFYear Built1915
Property TypeMultifamilyLot Size0.50 AC
Property SubtypeGarden/Low-RiseAPN / Parcel ID673-12-014

DESCRIPTION

This is a great opportunity for an investor to buy a building, stabilize it and turn it and make a quick half million dollars. The Seller bought this building a year ago and his managment company fled in the middle of the night. The Seller was forced to close the doors of the building and now the bank is looking for a solid investor to do a short sale. An Investor can put this back on the market after stabilizing it for around $27,000 a suite and sell for $1,556,000 with as little as $200,000 of repairs.

Located on the tri city area of East Cleveland, Cleveland Heights and Colliwood, just one block West of Noble Road. See Remodeled Gasmere Building picture located at 15500 Euclid Avenue. Rents their are 395.00 for Effieciency and 499.00 for one befdroom. Also see new State of the Art High School located a couple blocks over on Euclid Avenue.

HIGHLIGHTS

  • Quick turn Building
  • Tons of Equity

TRAFFIC

COLLECTION STREETCROSS STREETTRAFFIC VOLUMEYEARDISTANCE
Burnette AveEuclid Ave1,68520180.03 mi
Euclid AveHastings Ave9,97720180.13 mi
Euclid AveNoble Rd10,33320180.16 mi
Noble RdEuclid Ave5,93420180.18 mi
Noble RdEuclid Ave8,64520180.18 mi