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5201-5215 Warrensville Center Road

Maple Heights, OH 44137
  • $1,550,000
  • STATUS: Contingent
  • ON SITE: 117 Days
  • MLS #: 4344258
Under Contract
UPDATED: 34 min ago
$1,550,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1957
County:

School Ratings & Info

Listing courtesy of Keller Williams Citywide.
Listing information © 2022 YES-MLS.

Description

This Class C brick apartment complex is a solid investment in a great market with HUGE value add potential. Maple Heights is fantastic rental area with market rents ranging from $600 to $1200/mo. Tenants are drawn to this area due to its close proximity to shopping and jobs such the Southgate shopping center and Jack Racino. "The Clare" consists of 2- 11 unit brick buildings with a fully renovated single family home in between. It has a near equal mix of 1 and 2 bed units with 1 studio in each building and 3 bedrooms in the SF. Tenants can access the building from the attached covered parking located behind the buildings or from the main door. Each building contains on site, coin operated laundry that provides additional income and private storage space in the maintenance room. Owner utility expenses are reduced thanks to in-suite furnace and hot water tanks. 5 of the current tenants have all been there over 1 year. Currently has 11 vacant units that require no more then a rent ready turnover and/or minor updates in order to be occupied. All units are occupied at below market rents with instant profit gained simply by placing tenants and updating leases. Proforma indicates almost $220,000/year in gross rents.

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Listing information © 2022 YES-MLS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than RE/MAX Edge Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2022-05-18T08:07:34.377.
www.akroncantonhomesonline.com/homes/124922776
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5201-5215 Warrensville Center Road Maple Heights, OH 44137

  • Price: $1,550,000
  • Status: Contingent
  • On Site: 117 Days
  • Updated: 34 min ago
  • MLS #: 4344258
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1957
Built
Neighborhood:
Waid & Duffeys Ctr Hwy Al
County:
Cuyahoga
Area:
Maple Heights
Property Description
This Class C brick apartment complex is a solid investment in a great market with HUGE value add potential. Maple Heights is fantastic rental area with market rents ranging from $600 to $1200/mo. Tenants are drawn to this area due to its close proximity to shopping and jobs such the Southgate shopping center and Jack Racino. "The Clare" consists of 2- 11 unit brick buildings with a fully renovated single family home in between. It has a near equal mix of 1 and 2 bed units with 1 studio in each building and 3 bedrooms in the SF. Tenants can access the building from the attached covered parking located behind the buildings or from the main door. Each building contains on site, coin operated laundry that provides additional income and private storage space in the maintenance room. Owner utility expenses are reduced thanks to in-suite furnace and hot water tanks. 5 of the current tenants have all been there over 1 year. Currently has 11 vacant units that require no more then a rent ready turnover and/or minor updates in order to be occupied. All units are occupied at below market rents with instant profit gained simply by placing tenants and updating leases. Proforma indicates almost $220,000/year in gross rents.
Exterior Features

Parking Features CoveredOn SiteOutsidePrivate

Interior Features

Basement None Basement YN No Building Area Total 0 Cooling None Cooling YN No Heating Forced Air Heating YN Yes

Property Features

Lease Considered YN No Listing Terms CashConventional Owner Pays SewerTrash CollectionWater Ownership Resident Property Sub Type Apartment Sewer Public Sewer Tax Annual Amount 25274 Tenant Pays Cable TvElectricityHeat Township Maple Heights Trash Expense 220 Water Sewer Expense 280 Water Source Public Year Built Details Actual Ybt

Listing information © 2022 YES-MLS.
Listing provided courtesy of Keller Williams Citywide.
Listing information © 2022 YES-MLS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than RE/MAX Edge Realty are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). Information Deemed Reliable But Not Guaranteed. The photos may be altered, edited, enhanced or virtually staged. Data last updated 2022-05-18T08:07:34.377.
 
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Listing courtesy of Keller Williams Citywide.
Listing information © 2022 YES-MLS.