$118,000
$110,000
7.3%For more information regarding the value of a property, please contact us for a free consultation.
5 Beds
3 Baths
1,850 SqFt
SOLD DATE : 10/25/2024
Key Details
Sold Price $118,000
Property Type Single Family Home
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,850 sqft
Price per Sqft $63
Subdivision Graham-Scofield Allotment
MLS Listing ID 5072406
Sold Date 10/25/24
Bedrooms 5
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 1,850
Total Fin. Sqft 1850
Year Built 1925
Annual Tax Amount $742
Tax Year 2023
Lot Size 4,199 Sqft
Acres 0.0964
Property Sub-Type Duplex
Property Description
Investor's dream! This turnkey duplex not only offers incredible income potential but also comes with the possibility of converting the third floor into a triplex, adding even more value. The lower unit features 2 bedrooms and 1 bath, while the upper unit boasts 3 bedrooms and 2 full baths. Both units have undergone extensive updates, including fresh carpeting, modern paint throughout, new cabinets, countertops, and renovated bathrooms, making this property move-in ready for tenants.
In addition to the cosmetic updates, major systems have already been taken care of with newer furnaces and hot water tanks installed, ensuring no immediate capital expenditures (CapEx) are required. The property also includes a spacious 2-car garage, offering added convenience.
Market rents in this area range between $900-$1,200 per unit, with even higher income potential from Section 8 tenants. This property could easily achieve over a 2% rent-to-price ratio, making it an outstanding investment in a rapidly developing neighborhood. Located just minutes from Shaker Square and University Circle, this duplex is perfectly positioned in an area seeing continued growth and revitalization. With the potential for high returns and a prime location, this is an opportunity you don't want to miss! Secure your showing today and make this high-yield property part of your portfolio.
Location
State OH
County Cuyahoga
Rooms
Basement Unfinished
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Laundry Common Area
Exterior
Parking Features Paved
Garage Spaces 2.0
Garage Description 2.0
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Garage true
Private Pool No
Building
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 121-32-075
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Financing Conventional
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Bought with Drew Dickson • RE/MAX Traditions
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