8403 Detroit Avenue, Cleveland, OH 44102
- $950,000
- List Price
- $950,000
- Status
- ACTIVE
- MLS#
- 5241154
- Year Built
- 1910
- Region
- Cleveland
- Township
- Cleveland
Property Description
Turnkey mixed-use investment opportunity in the highly desirable Detroit Shoreway neighborhood. This fully renovated property features 5 residential units and 3 occupied retail storefronts, generating $111,600 in annual income with a strong NOI of $96,803 (10.2% cap rate).*Residential units include 3 one-bedroom apartments and 2 efficiency units, all leased with stable tenancy through 2027. Retail spaces are fully occupied with leases in place through 2029, providing consistent commercial income.* The building has been extensively updated with a new roof, HVAC systems, updated electrical and plumbing, and fully renovated interiors, resulting in minimal deferred maintenance. Tenants pay utilities, keeping operating expenses low. Located just minutes from Edgewater Park with easy access to downtown Cleveland and major highways
Additional Information
- Taxes
- $5,717
- Acres
- 0.09
- Sewer
- Public Sewer
- Roof
- Flat
- Water
- Public
- Heating
- Gas
- Cooling
- None
- School District
- Cleveland Municipal - 1809
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Listing Courtesy of: Angela P Giarikos, angiarikos@gmail.com With RE/MAX Above & Beyond
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