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4467 Lee Rd 9 Unit Apartment Building $700,000 ($77,778/Unit) 7.14% Cap Rate Cleveland, OH 44128
Investment Highlights
- All 9 units Rented.
- Updated units, roof, etc.
Executive Summary
Solid 9 units investment property offering 100% occupancy with tenant paid gas and electric, ensuring consistently low and predictable operating expenses. The building reflects responsible ownership with major capital improvements completed in recent years, including: * New roof installation * Fresh asphalt and parking lot upgrades * Balcony renovations * Basement waterproofing Updated units With a stable tenant base, strong rental history, and significant recent updates, this property stands out as a turnkey, low maintenance addition to any investment portfolio. Ideal for investors seeking reliable cash flow and minimized future capital needs
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$80,400
|
$10.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$80,400
|
$10.04
|
| Taxes |
$14,048
|
$1.76
|
| Operating Expenses |
$15,300
|
$1.91
|
| Total Expenses |
$29,348
|
$3.67
|
| Net Operating Income |
$51,052
|
$6.38
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $80,400 |
| Annual Per SF | $10.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $80,400 |
| Annual Per SF | $10.04 |
| Taxes | |
|---|---|
| Annual | $14,048 |
| Annual Per SF | $1.76 |
| Operating Expenses | |
|---|---|
| Annual | $15,300 |
| Annual Per SF | $1.91 |
| Total Expenses | |
|---|---|
| Annual | $29,348 |
| Annual Per SF | $3.67 |
| Net Operating Income | |
|---|---|
| Annual | $51,052 |
| Annual Per SF | $6.38 |
Property Facts
| Price | $700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $77,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 7.14% | Building Size | 8,004 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.87/1,000 SF |
| Zoning | LR - Apartment | ||
| Price | $700,000 |
| Price Per Unit | $77,778 |
| Sale Type | Investment |
| Cap Rate | 7.14% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 8,004 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1965 |
| Parking Ratio | 1.87/1,000 SF |
| Zoning | LR - Apartment |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $140,140 | |
| Land Assessment | $8,400 | Annual Taxes | $14,048 ($1.76/SF) |
| Improvements Assessment | $131,740 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$8,400
Improvements Assessment
$131,740
Total Assessment
$140,140
Annual Taxes
$14,048 ($1.76/SF)
Tax Year
2025
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4467 Lee Rd
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