1615 Ridgefield Road, Cleveland Heights, OH

Others for Sale - $750,000


Agent Info

Morgan McClain
Coldwell Banker Schmidt Realty

Property Info

CIMLS#1157028
Location
  1615 Ridgefield Road
  Cleveland Heights OH 44118
UpdatedMarch 30th, 2024
TypeOthers
Price$750,000

Property Description

TURNKEY APARTMENT BUILDING! If you are looking cash producing apartment complex that is over 50% occupied, then look no further! Producing over $3,800 in rent a month right now, at max rental occupancy, you will be looking at over $7,000 a month for a total of over $94,044 GCI at a 12.5% cap rate before expenses! This property features 10 one bed one bath units! Each unit features beautiful new floors, tons of natural lighting and spacious bedrooms! Property management is estimating to have all units tenanted by the end of April. Mechanics are also new including the hot water tanks, boiler system and updated electric throughout the entire complex! All it is missing is its new owner! POS to be ordered upon executed contract and buyer to assume POS violations. Mix and match! This property can be purchased individually wiith 684-03-006, 684-03-033 or all 3 for $2,000,000.Hurry! This property won't last long!


Financials


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