Cleveland, OH 44109,3914 Riverside AVE
Cleveland, OH 44109,3914 Riverside AVE
Cleveland, OH 44109,3914 Riverside AVE
35
$3,250,000
$3,500,000
7.1%
Est.Price: ?

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3914 Riverside AVE Cleveland, OH 44109

Est. payment /mo
SOLD DATE : 04/16/2024

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Key Details

Sold Price $3,250,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision Frank E Bliss

MLS Listing ID 4451923

Sold Date 04/16/24

HOA Y/N No

Year Built 1905

Annual Tax Amount $34,398

Property Description

This FULLY OCCUPIED Westside Portfolio opportunity is now available! Consisting of 38 total properties with 35 in some of Cleveland’s fastest appreciating westside areas. This 43 door portfolio is being offered at a current 7.5% cap rate! Consisting of mostly single families, this package offers multiple exit strategies that assist you in maximizing your profits. The current NOI is over $250k with a pro forma NOI at over $400k+. The cap rate once stabilized exceeds well into the double digits. There are 5 duplexes and 33 single family homes with over 100 bedrooms! Low expenses provide higher cash flow and the total taxes are under an average of $1k/ year/ property. Owner pays water and trash. The NOI was calculated adding in 10% management, 5% maintenance, 5% vacancy, taxes, insurance and water/sewer costs so numbers are very real. Financials and photos of each are available from the listing agent. Selling as package only. The seller is open to splitting the 3 Eastside Properties off if necessary. (Note: ONLY those three properties are available to be split off). This is a great opportunity to create cash flow and equity.

Location

State OH

County Cuyahoga

Rooms

Basement Full

Interior

Heating Forced Air

Fireplace No

Exterior

Water Access Desc Public

Roof Type Other

Building

Sewer Public Sewer

Water Public

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 015-17-111

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Private

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Listed by Gregory Erlanger • Keller Williams Citywide • Info@EZSalesTeam.com (216) 916-7778
Bought with Nicole M Garcia • EXP Realty, LLC.

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Derek Villers

REALTOR/Salesperson | License ID: WVS200301302

+1(304) 532-4907

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