Aspire Real Estate & Property Management
Aspire Real Estate & Property Management
Aspire Real Estate & Property ManagementPhone: (216) 503-8715
Email: [email protected]
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listing
1 of 39
CommercialFor Sale
$885,000
2549 Kenilworth Road
Cleveland Heights, OH 44106
Courtesy of Russell Real Estate Services
MLS: MLS Now
Est. Mortgage
$4,668/mo

Introducing a 7-unit brick building investment opportunity nestled in the coveted heart of Coventry in Cleveland Heights – a rare gem in an ideal, prime location. Boasting proximity to educational institutions like Case Western Reserve (4-minute drive) and Notre Dame College (11-minute drive), and John Carroll University (12-minute drive), as well as quick access to major healthcare centers – a mere 8-minute drive to Cleveland Clinic Main Campus and 6-minute drive to University Hospital Main Campus. Not to mention, the property is situated just steps away from live music venues, vibrant bars, delectable restaurants, and eclectic shopping destinations. This 7-unit is strategically positioned for success no matter which way you look! Fully occupied, this property currently generates $9,875 per month, with a proforma potential of over $11,000 per month. The extremely large units feature beautiful hardwood floors throughout, spacious kitchens with peninsula islands, and the convenience of in-suite laundry—an amenity highly sought after by tenants. Some units have already been updated with refinished hardwood floors, modern paint, and upgraded bathrooms and kitchens. To achieve the proforma numbers, all a new owner needs to do are some cosmetic upgrades to one unit and raise the rents on lease renewals for the remaining units. Each unit has separate electric meters, with tenants responsible for their own electric bills, while the boiler and water/sewer is paid by the owner. Additionally, the property includes five garage spaces, providing secure and convenient parking for tenants. Take advantage of this opportunity to invest in one of Cleveland's most dynamic neighborhoods, with immediate income and additional upside potential!

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Information courtesy of Russell Real Estate Services is subject to verification and is not guaranteed.
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