$265,000

7511 Jeffries Avenue, Garfield Heights, OH 44105

  • 4 beds |
  • 2 baths |
  • 6,660 sqft
  • Property Icon Duplex
  • Property Year Built Icon Built in 1949
  • Property Lot Size Icon0.85acre lot
  • Property Parking Icon 6 car garage
  • Property Price Per Square Feet Icon $40/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Attention investors!! Fully occupied duplex with oversized garages, receiving additional income! Raking in $3,800 per month(15% ROI), this property is the perfect addition to your portfolio. Unit A rented at $1,050 , Unit B at $1,250, and garage spaces at $1,500 per month (long term tenant). Each residential unit has undergone a comprehensive renovation, including: Brand new flooring, fresh paint, updated light fixtures and modern hardware, refinished ceilings, complete kitchen, bath remodels, new furnaces & hot water tanks, updated electrical panels, newer sump pump, numerous newer windows and newer Roof! Exterior highlights include durable vinyl siding, private entrances, and a partially fenced backyard. The property also boasts a large parking lot, with two dedicated spaces per residential unit, and additional open land at the rear offering added privacy and space. Residential Unit B - 2 beds/ 1 bath. Unit A - 2 beds. 1 bath) The commercial component consists of 3 garage bays (used as auto/mechanic shop) leased together at $1,500/month on a new five-year lease beginning June 1 with 3% annual increases. The garage also includes a private office, the tenant—who has been occupying the space for over six years—has expressed interest in staying on as PM for just $200/month. Each residential unit is separately metered, property will be delivered Point-of-Sale Compliant! Crushing a 20% cash on cash return, this is a highly desirable investment in a prime location!

Listing Status:
Active
Listing Office:
Russell Real Estate Services : 440-835-8300
Listing Agent:
Armani Adames : 216-370-8550
MLS ID:
5161605
  • Basement: FullUnfinished
  • A/C: None
  • Heating: Forced Air
  • Parking: Additional ParkingAttachedDetachedGarageParking Lot
  • Roofing: AsphaltFiberglass
  • General: Vinyl Siding1
  • Originating MLS: NOWDD_NORM
  • School District: Cleveland Municipal - 1809
  • County: Cuyahoga
  • Zoning: 307 HICKS PTS OF HICKS SUBD VAC ST & ALLEY546-38-042
  • Water: Public
  • Sewer: Public Sewer
  • Source: NOWDD_NORM

This listing courtesy of Armani Adames, Russell Real Estate Services

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Warner Girls' Leadership Academy

8315 Jeffries Ave, Cleveland, OH, 44105

Grades PK-8

0.35 miles away

W

Warner Girls' Leadership Academy

8315 Jeffries Ave, Cleveland, OH, 44105

Grades PK-8

0.35 miles away

J

John Adams College and Career Academy

3817 Martin Luther King Jr Dr, Cleveland, OH, 44105

Grades 9-12

2.01 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.