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17506 Nottingham Road

Cleveland, OH 44119
  • $705,000
  • STATUS: Active
  • ON SITE: 33 Days
  • MLS #: 5046427
UPDATED: 69 min ago
$705,000
  • 0
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1962
County:
Area:

School Ratings & Info

School District:

Description

Located on a charming residential brick road, Nottingham Place has undergone several meaningful enhancements and is ideal for investors looking for a cash-flowing asset with still room to grow. Conveniently located near the Waterloo Arts and Entertainment District, walking-distance from Euclid Beach Park this property is just as much appealing to your tenants. Notably, it offers both off-street surface parking for residents and guests, as well as a private covered garage for all residents. It comprises of 10 units total 1 studio apartment, 3 1-bedroom apartments and 6 2-bedroom units. 100% occupancy historically. Basement has utilities and rough-ins available for creating one additional 2-bedroom unit adding to the potential of this property. Start earning cash flow from day 1. Half of the units are at market rent leaving substantial growth potential for the new owners as leases mature. Owners have made significant investment in the upkeep of the property by making some meaningful improvements since taking possession: Installed new coin-operated washer/dryer for additional income New refrigerators in units 2, 3, 4, 6, 8, 9 New electric range in units 2, 3, 4, 5, 6, 7, 8, 10 Replace all unit fuse boxes with breaker panels New window AC for all units New vinyl flooring in all units Removed shrubs and bushes and general cleanup Cleaned all gutters (jetted) and installed new gutter guards Jetted all drain lines Removed unused satellite dishes on roof and patch as required

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www.clevelandhomefinder.com/homes/151702872
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17506 Nottingham Road Cleveland, OH 44119

  • Price: $705,000
  • Status: Active
  • On Site: 33 Days
  • Updated: 69 min ago
  • MLS #: 5046427
0
Beds
0
Baths
0
½ Baths
0.45
Acres
1962
Built
Neighborhood:
15 MOSESAL&M 0382 ALL
County:
Cuyahoga
Area:
Cleveland
School District:
East Cleveland Csd - 1812
Property Description
Located on a charming residential brick road, Nottingham Place has undergone several meaningful enhancements and is ideal for investors looking for a cash-flowing asset with still room to grow. Conveniently located near the Waterloo Arts and Entertainment District, walking-distance from Euclid Beach Park this property is just as much appealing to your tenants. Notably, it offers both off-street surface parking for residents and guests, as well as a private covered garage for all residents. It comprises of 10 units total 1 studio apartment, 3 1-bedroom apartments and 6 2-bedroom units. 100% occupancy historically. Basement has utilities and rough-ins available for creating one additional 2-bedroom unit adding to the potential of this property. Start earning cash flow from day 1. Half of the units are at market rent leaving substantial growth potential for the new owners as leases mature. Owners have made significant investment in the upkeep of the property by making some meaningful improvements since taking possession: Installed new coin-operated washer/dryer for additional income New refrigerators in units 2, 3, 4, 6, 8, 9 New electric range in units 2, 3, 4, 5, 6, 7, 8, 10 Replace all unit fuse boxes with breaker panels New window AC for all units New vinyl flooring in all units Removed shrubs and bushes and general cleanup Cleaned all gutters (jetted) and installed new gutter guards Jetted all drain lines Removed unused satellite dishes on roof and patch as required
Exterior Features

Attached Garage YN No Garage YN Yes Parking Features Detached Garage Roof Asphalt

Interior Features

Basement Common Basement Partially Finished Basement YN Yes Cooling Window Units Cooling YN Yes Heating Gas Heating YN Yes Laundry Features Coinoperated Main Level Bathrooms 0

Property Features

Association Fee2 5400 Listing Terms Cash Conventional Net Operating Income 57154 Operating Expense 32791 Property Sub Type Apartment Sewer Public Sewer Special Listing Conditions Standard Tax Annual Amount 8914 Township Cleveland Water Sewer Expense 2556 Water Source Public

 
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