$1,099,000
bedrooms
0
bathrooms
0
square feet
0
Acreage
0.6026
Open Houses
-
year built
1948
Full Baths
0
Half Baths
0
Investment Opportunity in Prime Kamm’s Corner Location!
Come SEE this all brick 2 story - 15) unit property which consists of 8) large 2 - Bedrooms / 1 Baths units and 7) 1- Bedrooms / 1 Baths units. This asset offers a rare opportunity in a highly sought-after westside location near public transportation, major highways, and job hubs such as Cleveland Hopkins International Airport and Cleveland Clinics Fairview Hospital.
Most units have been updated - featuring refinished hardwood floors in living spaces, new LVP flooring in kitchens and tiled bathroom floors and surrounds, added LED lighting in several units along w/ upgraded breaker panels.
Several units are achieving market rents of $850 per 1) Bed & $975 per 2) Beds these are strong rents for area.
UPDATES:
Newer shingled roof (full tear-off) and added insulation 5/2022, roughly 10 units have had full renovations, and the balance of the units have been nicely updated.
Mechanicals: Boiler was rebuilt in 2023, along with about 65% cast iron feed & return lines, Boiler Tech Added: Weil McLein low water shut-off, auto water feeder, Tekmar Boiler Smart Control with int. / ext. sensors for water/gas efficiencies.
Cosmetics & Interior Common: 2023 main entry vestibules, hallway flooring 2x 2 carpeted tile, low consumption water fixtures.
Exterior Grounds: Sealed and striped parking lot in 2022 as well as two sewer stacks replaced from basement to attic.
Property offers private off-street parking at 1:1 for tenants.
Income Opp: (20) storage units ($10 ea. x $20 or $2,400 annual) & laundry for added income estimated at $1,300 annually.
Investor can add value by with soft rentals increases on longer-term tenants.
This property is well-positioned for long-term success w/ projected proforma income of $ 168,580
Don’t miss this opportunity for a solid, passive investment in Cleveland’s vibrant Kamm’s Corner neighborhood.
Ask to see the “Actual and Proformas” financials for this asset.
Location | |
Subdivision | Rockport Homes |
County | Cuyahoga |
Elementary School | - |
Middle School | - |
High School | - |
Find out more
Tell us who you are, and we will have someone reach out to you.
MLS number: 5083766
Listing agent:
James P Matheos
#2015001911
Listing broker:
Keller Williams Citywide
(440) 892-2211
Copyright © 2025 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Last update: Friday, March 28 2025 at 7:49 p.m. EDT
Kotohomes National