1578 W 116th St | Cleveland, OH 44102
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- LoopNet Team
1578 W 116th St
Cleveland, OH 44102
Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- The six-unit apartment building at 1578 W 116th Street received a new roof in 2023 and has had all units updated over the last five years.
- Each resident covers their own gas and electric payments.
- Each unit has a scenic private balcony.
- This investment opportunity presents immediate cashflow with upside in bringing rents to market rates.
PROPERTY FACTS
| No. Units | 6 | Lot Size | 0.18 AC |
| Property Type | Multifamily | Building Size | 6,854 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1927 |
| Zoning | GR | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 6,854 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1927 |
| Zoning | GR |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | 650 - 800 |
PROPERTY TAXES
| Parcel Number | 001-22-040 | Improvements Assessment | $105,840 |
| Land Assessment | $12,355 | Total Assessment | $118,195 |
PROPERTY TAXES
Parcel Number
001-22-040
Land Assessment
$12,355
Improvements Assessment
$105,840
Total Assessment
$118,195
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