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9521 Grand Division Avenue

$439,900 (Sale)
9521 Grand Division Avenue, Cleveland, OH 44125
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Property Details

  • Property Type: Mixed Use, Multifamily
  • Building Size: 9,310 SF
  • Lot Size: 0.21 Acres
  • Zoning: Local Retail

Overview

9521/4600 Grand Division is an agent-owned, income producing mixed-use apartment building located in the Garfield Heights neighborhood at the corner of Turney Road. The all brick, walk-up apartment building is comprised of the following units:
9 Units Include:
• (4) Extra Large three bedroom with balcony
• (2) Large two bedroom with updated bathrooms
• (1) 1 bedroom full studio
• (2) Commercial spaces with long standing tenants: religious institution and a barber/salon shop

Updates include: HVAC systems, electric panels, hot water tanks, security lighting & keypads on all common entry doors, roof sealed in 2021, new paint throughout, carpet, and bathroom fixtures in many of the units. Many units feature hardwood floors. Paved parking lot and walking distance to several bus stops and Garfield Heights High School. Landlord Pays for water/sewer, trash and common area electric.

Financial Summary:
Projected Net Operating Income at 100% Occupancy at Market Rates $45,275
Projected Cap Rate 10.3%
Sale Price $439,900
Price Per Unit $48,878 / Unit

 

Highlights

  • Income Generating
  • Enclosed Entry with Keypads
  • Annual Taxes: $6,
  • Bus Stops
  • Updated Sub Metered Electrical
  • Paved Off Street Parking
  • Updated & Individual Furnaces
  • All Brick Building
  • Multiple Ingress/Egress
  • Full Basement
  • Parking Ratio: 1/1,000 SF

Location Map

Listing Brokers

Managing Director - Cleveland Office

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