8603-8607 Madison Ave | Cleveland, OH 44102
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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 | 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 | 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
| 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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