2329 E 89th St | Cleveland, OH 44106
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- LoopNet Team
2329 E 89th St
Cleveland, OH 44106
The Bolton Building · Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- 6 Units For Sale for $275,000 ($45,833 per unit)
- Tenant Paid Gas (Heat, Hot Water), Electric. Landlord Paid Water & Sewer
- Excellent Opportunity to Add Value by Increasing the Lease Rates to Market Rates.
- Pro-Forma Cap Rate at $275,000 Sales Price w/Management & RE Tax Increase is 9.86% Cap Rate
- Located in an Opportunity Zone, just South of the World Headquarters of the Cleveland Clinic Hospital
PROPERTY FACTS
| No. Units | 6 | Building Size | 5,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1960 |
| Building Class | C | Parking Ratio | 1.2/1,000 SF |
| Lot Size | 0.16 AC | ||
| Zoning | 2F | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | 2F |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $712.50 | 710 |
| 2+1 | 2 | $681.00 | 625 |
PROPERTY TAXES
| Parcel Number | 119-34-021 | Improvements Assessment | $103,880 |
| Land Assessment | $1,820 | Total Assessment | $105,700 |
PROPERTY TAXES
Parcel Number
119-34-021
Land Assessment
$1,820
Improvements Assessment
$103,880
Total Assessment
$105,700
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