$1,990,000
4400 Rocky River DR Cleveland, OH 44135
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$1,990,000
Est. payment /mo
0.7 Acres Lot
UPDATED:
10/22/2024 12:58 AM
Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Rockport Sec 08
MLS Listing ID 5075104
HOA Y/N No
Year Built 1956
Annual Tax Amount $24,774
Tax Year 2023
Contingent Inspections
Lot Size 0.705 Acres
Acres 0.705
Property Description
Investment Opportunity in Prime Kamm’s Corner Location! This 27-unit building, consisting of 25 spacious 1-bedroom units and 2 studios, offers a rare opportunity in a sought-after westside location near public transportation, major highways, and job hubs, just 7 minutes from bbthe airport. All units have been updated, with most featuring new LVP flooring, and the property is now achieving market rents of $875/month plus an additional $75-100 utility charge, equating to nearly $975/month per one-bedroom unit—a strong rental rate for the area. New vinyl windows and a slab foundation (no basement) further enhance the building’s appeal and reduce future maintenance concerns. Investors can add value by creating a private courtyard or other amenities to attract tenants. With laundry income, private parking for 24 cars, and updated mechanicals, this property is well-positioned for long-term success. Projected proforma income of $276,900. Utility charges alone could reduce expenses by $30,000 annually. Don’t miss this opportunity for a solid, passive investment in Cleveland’s vibrant Kamm’s Corner neighborhood.
Location
State OH
County Cuyahoga
Rooms
Basement None
Interior
Heating Forced Air, Hot Water, Steam
Cooling None
Fireplace No
Exterior
Garage Paved, Parking Lot
Water Access Desc Public
Roof Type Flat
Present Use Residential
Parking Type Paved, Parking Lot
Building
Story 2
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 026-11-003
Special Listing Condition Standard
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Listed by Gregory Erlanger • Keller Williams Citywide • Info@EZSalesTeam.com 216-916-7778
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