11802 Phillips AvenueCleveland, OH 44108
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Introducing a prime investment opportunity in the Cleveland rental market: a newly updated, 11-unit apartment building generating over $100K in annual gross rental income. This property, recently revitalized with extensive interior cosmetic renovations, is fully occupied and currently brings in $8500 per month. With a near 10% CAP rate as-is, there’s potential to further increase rental income upon lease renewals. The building features (4) 1-bedroom units and (7) 2-bedroom units, each with individual furnaces. Tenants cover their own electric and gas heating costs while the owner is responsible for water, sewer, and gas for the hot water heaters. This is a great chance to acquire a fully-occupied, cash-flowing, high-yield asset in a growing rental market.
| 2 months ago | Status changed to Pending | |
| 2 months ago | Listing updated with changes from the MLS® | |
| 3 months ago | Price changed to $559,000 | |
| 6 months ago | Listing first seen on site |
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