3240 W 98th Street, Cleveland, OH 44102

Property Description

Located just minutes to Cleveland's downtown business district, south of Cleveland's Lakewood and Detroit Shoreway districts. This asset is conveniently located within walking distance to bus / rail, with easy access to I90 and I71 for ease of commute. This well maintained all brick 2- story low rise is located at a high visibility / high traffic count corner offering desirable pedestrian traffic for retail and bus stops right outside. for tenant transportation. This property boasts: 17) units total: 5) main level high visibility retail units, and 12) residential. Unit mix as follows: 4) 2 bed/1bath, 7) 1 Bed/1 bath, 1) studio/1 bath and 5) retail (Retail Tenants are stable, have been in place and well established). CAP rate operates at 7.0% "As Is", with proforma at 9% with small adjustments. Stable / consistent occupancy history. NOTES: - Parking: 12 spaces, with security lighting and camera system - at the rear for private / secure off street parking for tenant value add that shows up in rent! - Laundry: On site laundry is provided w/ coin op in basement. - Management: Currently professionally managed and would stay on as desired / needed. - Updates: Cosmetics reno includes - Common area renovations: fresh paint, doors, walls, halls and entries, all new LED lighting added for energy saving and contemporary / modern feel. - Boiler: Professionally scheduled and maintained, offers auto feeder and low water shut off, Techmar thermostat management.