8403 Detroit Avenue, Cleveland, OH 44102
sale
$950,000
|
Other
Courtesy Of Remax Beyond 2000 Realty
Turnkey mixed-use investment opportunity in the highly desirable Detroit Shoreway neighborhood. This fully renovated property features 5 residential units and 3 occupied retail storefronts, generating $111,600 in annual income with a strong NOI of $96,803 (10.2% cap rate).*Residential units include 3 one-bedroom apartments and 2 efficiency units, all leased with stable tenancy through 2027. Retail spaces are fully occupied with leases in place through 2029, providing consistent commercial income.* The building has been extensively updated with a new roof, HVAC systems, updated electrical and plumbing, and fully renovated interiors, resulting in minimal deferred maintenance. Tenants pay utilities, keeping operating expenses low. Located just minutes from Edgewater Park with easy access to downtown Cleveland and major highways
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Property Features
- Age: Over 50 Years Old
- Building Units: 8
- Heating System: Natural Gas
- Legal Description: 29 RHODES V15-P2 0001 NP
- MLSID: 5241154
- Roof Type: Flat
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