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8201 Madison Avenue, Cleveland, OH 44102

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Listing Type
commercial/industrial
Listing Status
active
Explore Cleveland, OH
50
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$435,000

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Property Details for 8201 Madison Avenue
Price
$435,000
Type
commercial/industrial
Year Build
1918
Lot Size
0.1644
County
Cuyahoga
Basement
Full
Tax
$7,340
MLS®️ Listing#
5031904
On exitrealty.com
85 days
Property Description
Introducing a promising investment opportunity in the up-and-coming "West 80’s" neighborhood, adjacent to Edgewater in Detroit Shoreway on Cleveland's west side! This all-brick 6-unit property offers individual furnaces and hot water tanks, along with updated electrical panels for added convenience and efficiency. Currently, two units await light turns to make them rent-ready, mainly requiring flooring and minor touch-ups. With four units already occupied, the property collects a total gross monthly rent of $3,190. However, upon full occupancy at market rents, the potential monthly income could soar to $6,000. Each unit features a comfortable 2-bed/1-bath layout, ensuring broad appeal to prospective tenants. Notable updates include the replacement of all six water tanks within the last five years and the recent replacement of two furnaces, with the remaining four furnaces in satisfactory working condition. Don't miss the chance to capitalize on this opportunity in a neighborhood on the rise, offering both immediate returns and long-term potential for growth!
Property Features
Listing courtesy: Russell Real Estate Services - 440-526-9400
The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information provided courtesy of the Northern Ohio Regional Multiple Listing Service.
Last Updated: 2024-07-12 22:44:55
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6370 Mount Pleasant St. NW, North Canton, OH 44720
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$435,000

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EXIT REALTY GPS
6370 Mount Pleasant St. NW, North Canton, OH 44720
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