Chris Trease
BEDS3
BATHS2 full
SQUARE FEET3,398
MLS#5205357
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLCleveland Municipal - 1809
Property Description
Investor opportunity in Cleveland with current rental income in place. Zoned single-family, but set up with 2 separate units and has been used that way for years. Both units are occupied by long-term tenants who would like to stay, offering immediate gross rent of $1,283 per month. Down unit includes 2 bedrooms and 1 full bath; up unit includes 1 bedroom and 1 full bath. Nearly 1,700 sq ft with a full unfinished basement, forced-air gas heat, driveway and rear parking area. The property is located just west of E. 116th with nearby access to shopping, parks, playgrounds, public transportation, and major roadways. Listed at an over 15% CAP rate based on current gross rent and list price. Public records identify the property as a single-family residence; current 2-unit setup is disclosed for buyer due diligence regarding permitted use, zoning, and rental compliance. Seller will consider all offers but prefers cash.
Property Features
Property Type: Multi Unit - Multiple
Basement: Full, Unfinished
Basement: Yes
Cooling: None
Heating: Forced Air, Gas
Lot Size: 0.10 Acres
Roof Type: Asphalt, Fiberglass
Stories: 2.0
Taxes: $1,155 / year
Year Built: 1920
Feature Descriptions
Accessibility: None
Community Features: Medical Service, Playground, Park, Restaurant, Shopping, Public Transportation
Days on Site: 1
Exterior: Wood Siding
Fencing: Other
Laundry: In Basement
Lot: Other
Parcel#: 128-24-039
Parking: Driveway, No Garage
Sewer: Public Sewer
View: City
Water: Public
Local Schools
School District: Cleveland Municipal - 1809
Listed By / Shown By
Listed By
Agency Name: LPT Realty
Agency Contact: info@21mike.com, 216-373-7727
Shown By
Agent Name: Chris Trease
Agent Phone: (419) 564-4841 Cell
Agency Title: Key Realty
Estimate Your Payment
Estimated Payment
$ 567.08 per month $447.50 Principal & Interest $96.25 Property Tax $23.33 Homeowner's InsuranceChange Payment Information
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11116 Lardet Avenue | MLS# 5205357
This multi-family property located at 11116 Lardet Avenue, Cleveland, OH 44104 is currently listed for sale with an asking price of $80,000. Lardet Avenue is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on christrease.ikeyrealty.com today.