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8603-8607 Madison Ave
Cleveland, OH 44102

The Blue Neptune Building · Multifamily Property For Sale · 6 Units

Investment Highlights

  • Included in a 20 Total Unit Three Building Portfolio Sale offered at $699,000, Can be purchased individually or in bulk
  • Two (2) commercial store fronts and four (4) Multi Family Units configured as (2) Two Bedroom, One Bath Units and (2) One Bedroom, One Bath Units
  • Detached covered garage with six spaces that could provide additional income
  • Projected Cap Rate at 100% occupancy with all Units rented at market rates is 11.30%
  • Gas and Electric utilities are sub metered

PROPERTY FACTS

No. Units 6
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

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
005-31-028
Land Assessment
$4,760
Improvements Assessment
$51,240
Total Assessment
$56,000

zoning

Zoning Code GR
GR
  • Listing ID: 20861384

  • Date on Market: 9/4/2020

  • Last Updated:

  • Address: 8603-8607 Madison Ave, Cleveland, OH 44102

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