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$325,000
Est. payment /mo
5,227 Sqft Lot
Active
1386 E 43 Cleveland, OH 44103
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Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision St. Clair/Superior
MLS Listing ID 5240208
HOA Y/N No
Year Built 1908
Annual Tax Amount $4,564
Tax Year 2025
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Apartment
Property Description
Five-unit multifamily in Cleveland's Goodrich-Kirtland Park at $325,000, or $65,000 per door, with two units occupied and three open. Priced and underwritten as a lease-up. Two structures on one site: a brick four-unit up front with four two-bedroom, one-bath apartments, plus a separate rear house with a three-bedroom, one-bath layout. The current owner replaced the wiring and panels throughout at a cost of roughly $70,000, so the largest capital item on a building of this vintage is already retired and the open units are ready to lease/being refreshed post tenant move-out. Interiors have been fully renovated within the last couple of years, current ownership redid the exterior, and holds rental licenses on all five units. The two occupied two-bedrooms are in place at $775. PCI underwrites the two-bedrooms at $900 and the rear house at $1,350, or $59,400 a year, carrying an NOI just over $37,000 and an 11.5 percent cap on the asking price. Every unit is separately metered with its own furnace and hot water tank. Roughly two miles from downtown and within three miles of the Cleveland Clinic's main campus, in a submarket about 65 percent renter-occupied. Full rent roll, financials and lease detail are available in the Document Center. Reach out for the package and to get on the tour schedule.
Location
State OH
County Cuyahoga
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Exterior
Parking Features No Garage
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 104-07-020
Special Listing Condition Standard
Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com, 216-870-8687
NEARBY SCHOOL & BUSINESS
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