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6118 Ridge Rd - Parma 6 Unit 6 Unit Apartment Building Offered at $560,000 at a 5.20% Cap Rate Parma, OH 44129
Executive Summary
Don't miss the opportunity to own this 6 Unit Muiti-family building in a prime location for rental income! Located in Parma, Ohio -10 minutes from Downtown Cleveland, great neighborhood for renters, low maintenance building with brick exterior and recently updated driveway and parking pad. Basement with coin laundry for additional income. Great rental income growth potential verse comparables in area! All units have been maintained by the current owner. Professionally cleaned/painted after each tenant. Updated electrical boxes, hot water tank, double pane windows, and appliances upgraded between tenants. Very low vacancy rate! This is a gem for any investor!
Unit Mix:
5 - Units- l Bedroom, l Bath, approx. 500 sq ft.
l Unit - Efficiency, 1 Bath, approx. 350 sq ft.
Owner pays common area gas & electric, pays all water, sewer, garbage, and snow removal. Charges pet fees and coin laundry.
Unit Mix:
5 - Units- l Bedroom, l Bath, approx. 500 sq ft.
l Unit - Efficiency, 1 Bath, approx. 350 sq ft.
Owner pays common area gas & electric, pays all water, sewer, garbage, and snow removal. Charges pet fees and coin laundry.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $725.00 | 500 |
| Studios | 1 | $600.00 | 360 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
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6118 Ridge Rd - Parma 6 Unit
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