3914 Riverside Ave
Cleveland, OH 44109
$3,500,000
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0 Beds
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0 Baths
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n/a SqFt
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This FULLY OCCUPIED Westside Portfolio opportunity is now available! Consisting of 38 total properties with 35 in some of Cleveland’s fastest appreciating westside areas. This 43 door portfolio is being offered at a current 7.5% cap rate! Consisting of mostly single families, this package offers multiple exit strategies that assist you in maximizing your profits. The current NOI is over $250k with a pro forma NOI at over $400k+. The cap rate once stabilized exceeds well into the double digits. There are 5 duplexes and 33 single family homes with over 100 bedrooms! Low expenses provide higher cash flow and the total taxes are under an average of $1k/ year/ property. Owner pays water and trash. The NOI was calculated adding in 10% management, 5% maintenance, 5% vacancy, taxes, insurance and water/sewer costs so numbers are very real. Financials and photos of each are available from the listing agent. Selling as package only. The seller is open to splitting the 3 Eastside Properties off if necessary. (Note: ONLY those three properties are available to be split off). This is a great opportunity to create cash flow and equity. Contact listing agent for due diligence info.
- Price:
- $3,500,000
- Bedrooms:
- 0
- Full Baths:
- 0
- Square Footage:
- n/a
- Acreage:
- n/a
- Year Built:
- 1905
- MLS #:
- 4451923
- Street Address:
- 3914 Riverside Ave
- City:
- Cleveland
- State:
- OH
- Postal Code:
- 44109
- County:
- Cuyahoga
- Subdivision:
- Frank E Bliss
- Listing Status:
- For Sale - Active
Building
- Basement Description:
- Full
- Has Basement:
- Yes
- Year Built:
- 1905
- Year Built Description:
- Actual Ybt
Business
- Annual Insurance Expenses:
- 35000
- Annual Maintenance Expenses:
- 18984
Listing
- Days On Market:
- 35
- On Market Date:
- 2023-04-27
- Originating Mls:
- Yes-Mls
- Terms:
- Cash, Conventional
Money
- Owner Pays:
- Sewer, Trash Collection, Water
- Ownership:
- Resident
- Tenant Pays:
- Electricity, Gas, Heat
Systems
- Existing Water:
- Public
- Heating:
- Forced Air
- Sewage Type:
- Public Sewer
Source
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Listing Provided By: Gregory Erlanger Info@EZSalesTeam.com (216) 916-7778 with Keller Williams Citywide
The listing information herein is provided through the MLS IDX database. Information is deemed reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of NEOHREX.
