Steve Burgess
Listed By
Agency Name: IIP Management, LLC.
Agency Contact: 216-503-6300, offers@iip-management.com
Shown By
Agent Name: Steve Burgess
Agent Phone: (330) 327-3393
Agency Title: Cutler Real Estate
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Property Description
Outstanding investment opportunity - add two fully renovated, high-income-producing apartment buildings to your portfolio. Together, these properties generate over $17,000 in monthly gross rental income. There is potential for even higher market rents, as the buildings house brand new tenants who moved in after the 2023 renovations. Enjoy a tax abatement on the property until 2038. Each building, completely updated in 2023, includes a tenant-operated, app-based laundry facility and individually metered units. Situated in Cleveland, a city with robust rental demand driven by its diverse economy and expanding healthcare and tech sectors, these properties are an ideal investment in a cost-effective and promising rental market. Capitalize on this chance to invest in one of the Midwest's most attractive rental markets. Current buildings are equipped with a property management team to ensure a seamless, hands-off ownership transition, if necessary for the buyer.
Property Features
Property Type: Commercial - Business
Basement: Common Basement, Finished
Basement: Yes
Cooling: None
Days on Market: 132
Heating: Hot Water, Steam
Lot Size: 0.36 Acres
Roof Type: Composition, Flat
Stories: 3.0
Taxes: $1,652 / year
Year Built: 1923
Feature Descriptions
Parcel#: 130-18-121
Parking: No Garage, Paved, Parking Lot
Sewer: Public Sewer
Units: 22
Water: Public
Local Schools
School District: Cleveland Municipal - 1809
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3296-3300 E 149th Street | MLS# 5165970
This commercial property located at 3296-3300 E 149th Street, Cleveland, OH 44120 is currently listed for sale with an asking price of $1,300,000. 3296-3300 E 149th Street is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on www.steveburgessre.com today.