3296 - 3300 E 149th Street,Cleveland, OH 44120
Cleveland, OH 44120
Description
Outstanding investment opportunity - add two fully renovated, high-income-producing apartment buildings to your portfolio. Together, these properties generate over $17,000 in monthly gross rental income. There is potential for even higher market rents, as the buildings house brand new tenants who moved in after the 2023 renovations. Enjoy a tax abatement on the property until 2038. Each building, completely updated in 2023, includes a tenant-operated, app-based laundry facility and individually metered units. Situated in Cleveland, a city with robust rental demand driven by its diverse economy and expanding healthcare and tech sectors, these properties are an ideal investment in a cost-effective and promising rental market. Capitalize on this chance to invest in one of the Midwest's most attractive rental markets. Current buildings are equipped with a property management team to ensure a seamless, hands-off ownership transition, if necessary for the buyer.
Details
| MLS# | 5113643 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 34 |
| Listing Provided By | IIP Management, LLC. | Violetta Varenkova |
Features
| SQ Feet | 16,986 |
|---|---|
| Basement | Y |
| Units | 22 |
| Building(s) | 2 |
| Acreage | 0.36 |
Market Activity 44120
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Learn More About This Property
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Cleveland |
| Zip Code | 44120 |
| Community Name | Palmer & Boyers Allotment |
| School District | Cleveland Municipal - 1809 |
| Elementary School | Cleveland Municipal - 1809 |
| Middle School | Cleveland Municipal - 1809 |
| High School | Cleveland Municipal - 1809 |
| Listing VS Median (in Palmer & Boyers Allotment) | |
Price: $1,500,000 low | high Med: $1,500,000 SqFt: 16,986 low | high Med: 16,986 $ / SqFt: $88 low | high Med: $88 On site: 34 low | high Med: 34.000000 | |