BEDS5
BATHS3 full
SQUARE FEET2,896
MLS#5184613
STATUSPending
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONMinor Heights Land Companys
SCHOOLCleveland Hts-Univer - 1810
Property Description
Investor Highlight: Total monthly rental income of $3,400 ($40,800 annually) on a $289,000 purchase price, exceeding the 1% rule at 1.18%. Current rents include a $1,700/month furnished first-floor unit, $1,100/month (will be going up to $1125 soon) second-floor long-term tenant, and $600/month third-floor one-bedroom. Annual property taxes are $8,036 (?? $670/month). Major capital improvements reduce near-term expenses with two new furnaces (2024), new refrigerator (2024), and new washer/dryer (2025). Well-maintained asset with documented annual servicing, offering immediate cash flow and minimal deferred maintenance. No seller financing and no wholesalers. PM is in place - truly a plug and play.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Unfinished
Cooling: Wall/Window Unit(s)
Garage: 3
Heating: Forced Air
Lot Size: 0.14 Acres
Roof Type: Asphalt, Fiberglass
Stories: 3.0
Taxes: $8,036 / year
Year Built: 1925
Amenities
Breakfast Bar
Ceiling Fan(s)
Granite Counters
Recessed Lighting
Feature Descriptions
Appliances: Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Days on Site: 33
Exterior: Wood Siding
Parcel#: 684-31-048
Parking: Detached, Garage
Sewer: Public Sewer
Water: Public
Local Schools
School District: Cleveland Hts-Univer - 1810
Listed By / Shown By
Listed By
Agency Name: Berkshire Hathaway HomeServices Professional Realty
Agency Contact: shakerheightsrealtor@gmail.com, 503-806-6517
Shown By
Agency Title: Key Realty
Agency Phone: 877-539-7589
Estimate Your Payment
Estimated Payment
$ 2,370.54 per month $1,616.58 Principal & Interest $669.67 Property Tax $84.29 Homeowner's Insurance
3271 Desota Avenue | MLS# 5184613
This multi-family property located at 3271 Desota Avenue, Cleveland, OH 44118 is currently listed for sale with an asking price of $289,000. Desota Avenue is located within the Cleveland Hts-Univer - 1810 school district. Search Cleveland real estate on www.ikeyrealty.com today.