8208 Denison Avenue, Cleveland, OH 44102

Property Description

Seize this new investment opportunity with a fully renovated 8-unit apartment building situated in the desirable Westside of Cleveland. This property underwent a comprehensive renovation in 2019, featuring a new roof, updated electrical and plumbing systems, and individual furnaces and hot water tanks for each unit. Each unit has also been cosmetically upgraded with new flooring, fresh paint, and completely revamped kitchens and bathrooms, enhancing tenant appeal and retention. The building consists of a diverse unit mix, including (1) 2-bedroom unit, (3) 1-bedroom units, and (4) studio units. Currently, only one unit is vacant and actively being leased. Tenants are responsible for all utilities aside from water and sewer, reducing owner expenses and increasing net income. Once fully leased, the property is projected to generate nearly $70,000 per year in gross income. With a nearly 9% CAP rate AS-IS and further potential to increase rents as current leases expire, this turn-key property offers investors a solid return on investment with minimal maintenance requirements due to all of the upgrades. Don’t miss out on the chance to add a high-performing asset to your portfolio in a sought-after location with strong rental demand. See supplements for additional financial information.