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$1,495,000
1456 W 107th ST Cleveland, OH 44102
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$1,495,000
Est. payment /mo
6,921 Sqft Lot
UPDATED:
09/30/2024 05:37 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Jennings & Other
MLS Listing ID 5012306
HOA Y/N No
Year Built 1963
Annual Tax Amount $13,109
Tax Year 2023
Lot Size 6,921 Sqft
Acres 0.1589
Property Description
1456 W 107th Street is. nestled between Cleveland's highly desirable Lakewood and Gordon Square and Detroit Shoreway communities. short walk to the lake, go see the Browns, CAVS or Indians, MGM Casino or Cleveland's downtown theater and business district, just 4 miles bus or car ride to Cleveland's Theater, Financial and Business districts.
This ALL brick mid 1960's boasts 14) apartments, all 1 bed / 1 bath approximately 550 sq per units each with their own w/ A/C.
Complete luxury renovation in 2022/23 with ALL NEW flooring, lighting, solid surface granite countertops w/ farmhouse oversized sinks and spray neck faucets , nicely finished with all NEW SS appliances. Step into the bathroom where you'll find hospitality grade finishes w/ honeycomb ceramic tile on floor to offset the white subway tile finishes.
This property is nicely finished with onsite laundry and off street secure/private parking for each unit at the rear.
Seller has positioned this asset at top of the market and has top of the market rents .
Each unit has its own breaker box and all electrical has been upgraded from fuses and new meter bases.
Tenants Pay:
Electric and Cable
Owner pays: Water, Sewer, Sanitation and Gas/Heat
(Tenant Back Charged for Utilities at Approximately $90 per unit for heat/gas included in rent - Avg. Rent of $1,100 )
2 Newer Boilers - previous owners
Set Of Coin Operated Washer/Dryer on Site generates about $120 monthly (NET).
Annual Income: $174,480
Annual Expense: $ 36,275
CAP ~ 8.2 %
Property Taxes:$ 13,091
Insurance: $ 6,408
This ALL brick mid 1960's boasts 14) apartments, all 1 bed / 1 bath approximately 550 sq per units each with their own w/ A/C.
Complete luxury renovation in 2022/23 with ALL NEW flooring, lighting, solid surface granite countertops w/ farmhouse oversized sinks and spray neck faucets , nicely finished with all NEW SS appliances. Step into the bathroom where you'll find hospitality grade finishes w/ honeycomb ceramic tile on floor to offset the white subway tile finishes.
This property is nicely finished with onsite laundry and off street secure/private parking for each unit at the rear.
Seller has positioned this asset at top of the market and has top of the market rents .
Each unit has its own breaker box and all electrical has been upgraded from fuses and new meter bases.
Tenants Pay:
Electric and Cable
Owner pays: Water, Sewer, Sanitation and Gas/Heat
(Tenant Back Charged for Utilities at Approximately $90 per unit for heat/gas included in rent - Avg. Rent of $1,100 )
2 Newer Boilers - previous owners
Set Of Coin Operated Washer/Dryer on Site generates about $120 monthly (NET).
Annual Income: $174,480
Annual Expense: $ 36,275
CAP ~ 8.2 %
Property Taxes:$ 13,091
Insurance: $ 6,408
Location
State OH
County Cuyahoga
Interior
Heating Gas, Hot Water, Steam
Fireplace No
Exterior
Water Access Desc Public
Present Use Multi-Family
Total Parking Spaces 20
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 001-25-053
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by James P Matheos • Keller Williams Citywide • jmatheos@kw.com 440-847-9033
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