East 134th Street Retail / Apartments 3432 E 134th St

Green Bridge Real Estate is pleased to present The 11 Unit 3432 East 134th Street Retail / Apartments located in Cleveland, Ohio 44120. The approx. 9,696 Sq.Ft, All-Brick, 2-Story Building on 0.149 acres, consisting of 11 units: One (1) One Bedroom, One Bath Unit; Seven (7) Two Bedroom, One Bathroom Units; One (1) Three Bedroom, One Bathroom Unit and Two (2) Approx. 700 Sq.Ft. Retail Storefronts. Owner directs Immediate Sale to fund other Business opportunities. The 11 Unit Building is currently 100% occupied. Landlord paid Trash, Water & Sewer. Some recent capital improvements include Newer Windows, Roof, Porches, Kitchens, Baths, and updated Electrical. The Current Net Annual Operating Income is $61,781 or a 11.46% Capitalization rate at the asking price of $539,000 ($49,000 per unit). The 2022 Capitalization rate based on Actual Income was 10.22%; 2023: 10.87%. 2 of the 9 Residential units are leased in conjunction with the Section 8 Subsidy Voucher program which provides partial / full housing assistance for low income individuals or families. This provides a stable, consistent tenant base with “guaranteed” rent payments. This is a Fantastic Opportunity to purchase a well maintained and high performing Apartment Building for a bargain price!
LOCATION
The 11 Unit 3432 East 134th Street Retail / Apartments is located in the Mount Pleasant neighborhood adjacent to the City of Shaker Heights to the North East. With easy access to I-77 to the West and Chagrin Road to the South, the apartments are only 4 miles from Little Italy, Case Western Reserve University and the Cleveland Clinic’s World Headquarters, and only 7 miles from Downtown Cleveland. RTA Public transportation is also readily available within the neighborhood with numerous bus stops within walking distance. The property benefits from its proximity to Shopping and amenities.