Multifamily Investment Opportunity
Price
$675,000
Off-Market Investment Opportunity
Property Overview:
Address: 17506 Nottingham Road, Cleveland, OH 44119
Property Type: 11-unit Multifamily
Unit Configuration:
(7) units with 2 bedrooms and 2 bathrooms each
(4) 1 Bedroom units
Property Photos: https://www.dropbox.com/scl/fo/1zxc55n8yn4f00hbta66y/h?rlkey=ijehl5t6mlvuq9n6edz1flznw&dl=0
Property Condition: This multifamily property is meticulously maintained and ready for new ownership. The current owner has made continuous upgrades to the property, ensuring it remains in excellent condition. These upgrades include regular cleanings and the replacement of carpets between tenant turnovers. These efforts have resulted in a solid, well-maintained property.
Additionally, a significant value-add feature is the recent addition of a dedicated laundry facility, which generates an additional $150 in monthly revenue. Please submit all offers to sarter@promiselandrealtyllc.com
Financials:
Monthly Gross Income: $7,500
Occupancy: The property is fully occupied by tenants. While they are currently on mixed leases, the owner is in the process of converting all tenants to annual leases, enhancing the property's stability and income predictability.
Seller's Motivation: The current owner's primary motivation is investment. They have taken great care in maintaining and improving the property, making it an attractive opportunity for investors looking for a stable income-generating asset.
Mortgage Information: The owner currently owes $390,000 on the property.
Asking Price: $675,000
This 11-unit multifamily property on Nottingham Road represents an attractive investment opportunity in Cleveland. With strong occupancy, regular upgrades, and additional revenue streams, it offers a solid foundation for consistent rental income. Don't miss this off-market listing - it's a promising addition to any real estate portfolio.
For more details or to arrange a private showing, please contact us.
Property Rent Rolls
Property Aerial View
"YOUR #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES, NATIONWIDE"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. 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*