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8621 Denison Avenue, Cleveland, OH 44102

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For Sale

$450,000

0.11 acres

Estimated Payment

$      /mo. †

APR for 30 years

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  • Apartment
    Property type

  • 0.1 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

Income-producing 6-unit building in the heart of Cleveland's West Side, featuring 3 one-bedroom, one-bath , 2 two-bedroom, one bath apartments and 1 storefront. All apartment tenants are Section 8, paying their own electric and gas, while the owner covers water and sewer. Current rents: Unit 1 $840/month (month-to-month since 8/22), Unit 2 $839month, Unit 3 $810/month (month-to-month since 7/23), Unit 4 $974/month (lease expires 8/26), Unit 5 $999/month (month-to-month since 10/23), and the storefront $1,000/month (lease expires 7/26). Well-maintained and turnkey, this property offers reliable cash flow and excellent investment potential. Located on a bus line and just minutes from downtown, the airport, and freeway access, this building is a prime opportunity for investors seeking immediate income in a high-demand area. Gross rent is 65,544.00, Yearly expenses 12,749.00. Cap Rate of 11.73%
MLS# 5149822

Courtesy Of McDowell Homes Real Estate Services

(440) 205-2000

Property Features

  • Age
    Over 50 Years Old
  • Heating System
    Steam, Forced Air
  • Lot Size
    0.11 Acres

Map and Directions

Directions to 8621 Denison Avenue, Cleveland, OH 44102

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.