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4578 E 131st St
Garfield Heights, OH 44105
4578 E 131st St · Multifamily Property For Sale
·
12 Units
Executive Summary
100% occupied, cash flowing 12 unit complex with value-add upside! This newly updated 12 unit deal is perfect for the investor looking for solid, stable cash flow day 1, while still having easy value-add upside available through basic cosmetic updates and organic rent bumps!
Currently 100% occupied, grossing $10,740 in rent per month, an investor will walk into nearly a 9.5% cap rate AS IS. Proforma, a savvy buyer will easily achieve $12,500+ per month in gross rent, with the ability to implement parking fees and on-site coin operated laundry for additional income!
The unit mix is ideal - boasting (8) two bedroom units and (4) one bedroom units. (6) of the (12) total units have been totally remodeled including updated kitchens with granite countertops and new appliances, updated flooring including vinyl plank and new carpet, updated bathrooms with tiled shower surrounds and new vanities, as well as updated lighting throughout and completely refreshed common areas.
In addition, there are a number of new furnaces and wall unit AC's that have been installed, as well as a new parking lot, painted and refreshed garages, two completely new roofs installed in 2025, new carpet, paint and lighting in the hallways, and new exterior entry doors, and new common how water tanks!
Tenants are responsible for gas and electricity, while the owner pays water/sewer/trash and common area electricity and gas. A number of tenants are currently month to month as well, allowing a buyer to quickly start implementing their business plan.
Currently 100% occupied, grossing $10,740 in rent per month, an investor will walk into nearly a 9.5% cap rate AS IS. Proforma, a savvy buyer will easily achieve $12,500+ per month in gross rent, with the ability to implement parking fees and on-site coin operated laundry for additional income!
The unit mix is ideal - boasting (8) two bedroom units and (4) one bedroom units. (6) of the (12) total units have been totally remodeled including updated kitchens with granite countertops and new appliances, updated flooring including vinyl plank and new carpet, updated bathrooms with tiled shower surrounds and new vanities, as well as updated lighting throughout and completely refreshed common areas.
In addition, there are a number of new furnaces and wall unit AC's that have been installed, as well as a new parking lot, painted and refreshed garages, two completely new roofs installed in 2025, new carpet, paint and lighting in the hallways, and new exterior entry doors, and new common how water tanks!
Tenants are responsible for gas and electricity, while the owner pays water/sewer/trash and common area electricity and gas. A number of tenants are currently month to month as well, allowing a buyer to quickly start implementing their business plan.
Property Facts
| Price Per Unit | $73,325 | Building Size | 1,862 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 9.27% | No. Stories | 2 |
| No. Units | 12 | Year Built | 1966 |
| Property Type | Multifamily |
| Price Per Unit | $73,325 |
| Sale Type | Investment |
| Cap Rate | 9.27% |
| No. Units | 12 |
| Property Type | Multifamily |
| Building Size | 1,862 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
Property Taxes
| Parcel Number | 546-35-100 | Improvements Assessment | $145,145 |
| Land Assessment | $11,200 | Total Assessment | $156,345 |
Property Taxes
Parcel Number
546-35-100
Land Assessment
$11,200
Improvements Assessment
$145,145
Total Assessment
$156,345
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