6914 SAINT CLAIR AVE Cleveland, OH 44103
Listed By Keller Williams Citywide, Gregory Erlanger
Info@EZSalesTeam.com (216) 916-7778
CASH COW! This 21 door Eastside portfolio is being offered at a true, CURRENT 9.6% cap rate! Current NOI is over $68k with a pro forma NOI at $124k+. Pro forma ARV leaves nearly $200k in equity left to be created through updates and rental increases. 16% cap rate expected once stabilized. This portfolio consists of a 7 unit, a 4 unit, 5 duplexes and a land parcel - (46 total bedrooms) Low expenses provide higher cash flow and with total taxes under $10k/year that definitely allows the cash to flow. Currently has 3 vacancies that are being made rent-ready. Owner pays water and trash. Selling as package only. The NOI was calculated including 10% management, 5% maintenance, 5% vacancy, taxes, insurance and water/sewer costs so numbers are very real. Financials and photos of each are available from the listing agent. ** Seller reduced the price immediately to compensate for $50k in expected capx required**
Details for 6914 SAINT CLAIR AVE
*The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office Keller Williams Citywide, (440) 892-2211
Updated 5:16PM - 6/7/2023
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