969 Nathaniel Rd
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969 Nathaniel Rd
5 Unit Apartment Building $320,000 ($64,000/Unit) 11.62% Cap Rate Cleveland, OH 44110
Investment Highlights
- Recently updated units
- Cap rate over 10%
- Full Occupancy
Executive Summary
ONLINE ONLY REAL ESTATE AUCTION
Minimum Bid $320,000
or
Buy it Now for $359,000 (plus BP)
AUCTION DATE : Wednesday December 4th @ NOON
Description
A well maintained 5 unit apartment building with four - 3BR/1BA and one - 2BR/1BA units. All the units were completely renovated recently and 100% occupied. Individual gas furnaces and tenants pay their own gas and electric. Landlord is responsible only for water, sewer and trash. All the units have hardwood floors. Ample parking space available with recently resurfaced lot. Has Security measures actively in place including cameras. Close to I-90 and Collinwood High school is few steps away. Solid brick building.
There is a sixth unit which is currently used as storage. If renovated, this unit can be another 3BR unit.
Lead certified by city of Cleveland.
Cap Rate 9-12% depending on final contract price
Net operating income is currently $37,173.
Lot Size: 0.18 Acres
Annual Taxes: $ 3,000 (approx)
Minimum Bid $320,000
or
Buy it Now for $359,000 (plus BP)
AUCTION DATE : Wednesday December 4th @ NOON
Description
A well maintained 5 unit apartment building with four - 3BR/1BA and one - 2BR/1BA units. All the units were completely renovated recently and 100% occupied. Individual gas furnaces and tenants pay their own gas and electric. Landlord is responsible only for water, sewer and trash. All the units have hardwood floors. Ample parking space available with recently resurfaced lot. Has Security measures actively in place including cameras. Close to I-90 and Collinwood High school is few steps away. Solid brick building.
There is a sixth unit which is currently used as storage. If renovated, this unit can be another 3BR unit.
Lead certified by city of Cleveland.
Cap Rate 9-12% depending on final contract price
Net operating income is currently $37,173.
Lot Size: 0.18 Acres
Annual Taxes: $ 3,000 (approx)
Property Facts
| Price | $320,000 | Apartment Style | Garden |
| Price Per Unit | $64,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 11.62% | Building Size | 7,192 SF |
| Sale Conditions | Build to Suit | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2022 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Price | $320,000 |
| Price Per Unit | $64,000 |
| Sale Type | Investment |
| Cap Rate | 11.62% |
| Sale Conditions | Build to Suit |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 7,192 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1923/2022 |
| Parking Ratio | 0.83/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+1 | 4 | - | - |
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PROPERTY TAXES
| Parcel Number | 115-30-075 | Improvements Assessment | $20,270 |
| Land Assessment | $3,080 | Total Assessment | $23,350 |
PROPERTY TAXES
Parcel Number
115-30-075
Land Assessment
$3,080
Improvements Assessment
$20,270
Total Assessment
$23,350
zoning
| Zoning Code | LR (APT UNITS 4-6) |
| LR (APT UNITS 4-6) |
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969 Nathaniel Rd
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