Updated: Jan 18
Multifamily Investment Opportunity
Duplex (2 Units) - 2,105 SF
$1,000/monthly rental income
Great opportunity to invest in the City of Cleveland, OH. This property is a cash flowing duplex in good condition. Both tenants are currently paying $500/month with the potential to raise each unit to market rent rate of $800/month over time. The seller is a tired landlord, works as a police officer during the day and is ready to retire. Receives rent payments in cash and doesn’t have physical copies of the lease, so a potential buyer would have to establish a new one. Upstairs tenant is a retired chemist and close friend of the seller. Downstairs tenant is a 28yr old, not sure what he does for a living but he moved from another state to Ohio 2yrs ago.
Both tenants pay $500 month to month and have been there 2yrs. Market rate is between $743/mo-$810/mo. Tenants pay all utilities except water for now. Both units are metered separately so they can pay their own water under a new landlord if you choose. All mechanicals are in working condition according to the seller. Roof was done back in 2019. After Repair Value is $93,000.
Please submit all offers directly to firstname.lastname@example.org
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PROMISE LAND REALTY, LLC
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*