3425 E 128th St
10 Unit Apartment Building $299,000 ($29,900/Unit) Cleveland, OH 44120
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INVESTMENT HIGHLIGHTS
- Great Quiet Location
- Low taxes and expenses
EXECUTIVE SUMMARY
Solid building, on a great quiet street, across from church, most walls, floors, doors in good condition, but a lot of work needed to get this back to former glory , some framing from leak in roof(repaired) need ten( kitchens, baths furnaces, hotwater tanks), some plumbing, property has electricity but central meter bases need upgrading, assume about 200k in rehab, 100 new windows have been ordered about 20 have been installed and will be included in price. Good property owner is a contractor but has too many other
projects so will reluctantly part with building. All units have kitchen, bath living room bedroom and dining/bedroom. Cash Cow!!!
projects so will reluctantly part with building. All units have kitchen, bath living room bedroom and dining/bedroom. Cash Cow!!!
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$99,999
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$9.99
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Other Income |
-
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-
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Vacancy Loss |
-
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-
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Effective Gross Income |
$99,999
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$9.99
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Taxes |
-
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-
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Operating Expenses |
-
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-
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Total Expenses |
$99,999
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$9.99
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Net Operating Income |
$99,999
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$9.99
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PROPERTY FACTS
Price | $299,000 |
Price Per Unit | $29,900 |
Sale Type | Investment |
No. Units | 10 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Building Size | 9,000 SF |
Average Occupancy | 0% |
No. Stories | 2 |
Year Built/Renovated | 1925/1985 |
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
1+1 | 10 | - | 900 |
1 of 1
PROPERTY TAXES
Parcel Number | 130-23-078 | Improvements Assessment | $9,030 (2023) |
Land Assessment | $1,300 (2023) | Total Assessment | $10,330 (2023) |