Investors looking to add cash-flowing properties to their portfolio should definitely take a look at this Cleveland duplex for sale. This 4-unit property offers not just one, but two duplexes on the same lot, making it a unique and potentially lucrative investment opportunity.
Currently, there is only one vacancy in this 4-unit property, which is being prepared to meet the requirements of an Eden voucher of $800. Once this unit is occupied, the property will be fully rented, generating a monthly income of over $2800, or approximately $34,000 annually. These numbers make it an attractive investment option for both those who follow the 1% rule and those aiming for a 10-CAP return.
Out of the 4 units, 3 are already occupied, with the fourth unit undergoing minor repairs before being rented out. This means that investors can start earning rental income from day one, with minimal effort required to bring the property to its full potential.
Recent upgrades to the property include the replacement of the sewer line from the rear property to the front, ensuring that there are no major maintenance issues to worry about in the near future. Additionally, property management is already in place, giving investors the option to continue with the existing management team, making the investment even more hassle-free. With a professional management team in charge, all you need to do is sit back and collect the rental income.
While it is not necessary, this Cleveland duplex for sale can also be purchased in conjunction with two other nearby properties: 1174 E 114 (3 units) and 6721 Edna (2 units). This offers investors the opportunity to expand their portfolio and benefit from economies of scale when it comes to property management and maintenance.
Cleveland’s real estate market has been attracting attention from investors due to its affordable prices and potential for strong rental income. With its multiple units and high occupancy rate, this 4-unit duplex is a great example of a property that can provide a steady stream of cash flow for investors.
Whether you are a seasoned investor looking to diversify your portfolio or a newcomer to real estate investing, this Cleveland duplex for sale presents an attractive investment possibility. With its multiple units, high occupancy rate, and potential for strong rental income, it is definitely worth considering. Don’t miss out on this opportunity to add a cash-flowing property to your investment portfolio.
10304 Shale Avenue, Cleveland, OH 44104