$305,000
Here is your chance to become a real estate investor overnight! This solid 5-unit brick apartment building in Cleveland offers strong income potential with all units currently occupied and producing reliable cash flow. Built in 1965, the property combines durable construction with modern updates, making it a stable and attractive investment. 4 units have been recently renovated, and the building includes private parking, vinyl replacement windows, and LVP flooring in the common areas and shared laundry. Major improvements include a roof reseal in 2022, a new exterior gas meter, updated electrical panels with individual metering, and a new boiler installed in 11/2023. Each apartment has a wall-mounted AC unit, and tenants enjoy convenient on-site laundry access.
The building has a mix of 1- and 2-bedroom units. Unit 1 is a 2-bedroom, 1-bath rented for $925/mo on a month-to-month lease. Unit 2 is a 1-bedroom, 1-bath vacant market rent is $850/mo. Unit 3 is a 2-bedroom, 1-bath leased for $895/mo. on a month to month lease. Unit 5 is a 2-bedroom, 1-bath leased for $850/mo through 12/31/25. Unit 4, a 1-bedroom, 1-bath, is occupied and rents at $705/mo through 11/30/26. Unit 5, a 1-bedroom, 1-bath, is occupied and rents at $$893/mo on a month to month lease.
Located in a convenient area of Cleveland near local amenities, public transit, and major commuter routes, this property offers strong tenant appeal and steady rental demand. With 5 stable tenants, individually metered utilities, and recent upgrades, the building provides immediate income with minimal maintenance.
Professional management is in place and willing to stay on. Full service management with dedicated departments for leasing, marketing, and tenant communication. Plus rehab and construction services are available for remote investors!
This is a rare opportunity to acquire a performing, low-maintenance asset in a desirable Cleveland neighborhood! No wholesalers. No Seller financing. No low ball offers.
5165378
MLS
18809 Bella Drive, Cleveland
