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REALTOR®
MLS#5235006
STATUSActive
PROPERTY TYPECommercial - Business
SUBDIVISIONWilloughby Euclid Ave Sub13
SCHOOLWilloughby-Eastlake - 4309
Property Description
Fantastic opportunity for the savvy investor. Grab this 5 unit, fully rented apartment complex that yields a great return of roughly 10% cap. Each of the 5 units features 1 bedroom, living room, kitchen, and a full basement. They each have a front and back entrance with the exception of one unit. Parking is plentiful. They all pay roughly $1,400 per month rent, plus they pay an extra $200 each to cover utilities. Current seller pays all the utilities for the building. Gross income is roughly $96,000 per year, with expenses as follows: utilities $12,000. Maintenance $6,000. Insurance $5,000. Taxes $6,464 with a net of $66,536. Pictures of 4 of the units included in the listing. Unit 22 tenant is in his 16th month and would like to stay. #24 is approaching 4th year there. #26 just signed a 12 month lease. #28 is in their 3rd year. #30 is in their 7th month on a 12 month lease. There will one showing day, Monday, as to not bother the tenants too much. Electric panel boxes, HVAC and water tanks are similar in all units. One has a newer water tank.
Property Features
Property Type: Commercial - Business
Basement: Yes
Basement: Full
Cooling: Wall Unit(s)
Heating: Forced Air, Gas
Lot Size: 0.47 Acres
Roof Type: Shingle
Stories: 1.0
Taxes: $6,464 / year
Year Built: 1961
Feature Descriptions
Parcel#: 27-A-018-0-00-003-0
Parking: Additional Parking, Common
Sewer: Public Sewer
Water: Public
Local Schools
School District: Willoughby-Eastlake - 4309
Listed By / Shown By
Listed By
Agency Name: The Agency Cleveland Northcoast
Agency Contact: mary.markulis@theagencyre.com, 330-618-2118
Shown By
Agent Name: DeHOFF Commercial Real Estate
Agent Phone: (330) 499-8153
Agency Title: DeHOFF REALTORS
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37822 Euclid Avenue | MLS# 5235006
This commercial property located at 37822 Euclid Avenue , Willoughby, OH 44094 is currently listed for sale with an asking price of $650,000. Euclid Avenue is located within the Willoughby-Eastlake - 4309 school district. Search Willoughby real estate on dehoffcommercial.dehoff.com today.