8603-8607 Madison Ave | Cleveland, OH 44102
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- LoopNet Team
8603-8607 Madison Ave
Cleveland, OH 44102
The Blue Neptune Commercial Bldg. · Multifamily Property For Sale · 4 Units
Investment Highlights
- Included in a 20 Total Unit Three Building Portfolio Sale. Can be purchased individually or in bulk
- Detached covered garage with six spaces that could provide additional income.
- Two of the Four Occupied Unit Rents are Subsidized by the Section 8 Government Low Income Rental Program
- Projected Cap Rate at 100% occupancy with all Units rented at market rates is 13.27%.
- Two (2) commercial store fronts and four (4) Multi Family Units located within walking distance to the hot Gordon Square district
PROPERTY FACTS
| No. Units | 4 | Building Size | 8,064 SF |
| Property Type | Multifamily | Average Occupancy | 66% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low Rise | Year Built/Renovated | 1916/1950 |
| Building Class | C | Parking Ratio | 1.49/1,000 SF |
| Lot Size | 0.14 AC |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 8,064 SF |
| Average Occupancy | 66% |
| No. Stories | 2 |
| Year Built/Renovated | 1916/1950 |
| Parking Ratio | 1.49/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $537.50 | 800 |
| 1+1 | 2 | $537.50 | 800 |
PROPERTY TAXES
| Parcel Number | 005-31-028 | Improvements Assessment | $51,240 |
| Land Assessment | $4,760 | Total Assessment | $56,000 |
PROPERTY TAXES
Parcel Number
005-31-028
Land Assessment
$4,760
Improvements Assessment
$51,240
Total Assessment
$56,000
zoning
| Zoning Code | GR |
| GR |
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