Vision Sales Team

1615 E 47th Street

Cleveland , OH 44103

MLS#: 5156339

$269,900

Status: Active
Listing number: 5156339
Listing provided by: Premier Heights Realty LLC
Listing agent phone: None
Last update: 18 days ago
On site: a month ago
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Alexander Macinthosh Allotment - Residential Income

Property

Beds

7

Full Baths

4

1/2 Baths

None

Year Built

1880

Sq.Footage

2,159

Completely remodeled 3-unit in 44103 has been grossing $3,500/month or $42,000/year! This property EASILY beats the 1% Rule and 10-Cap benchmark. Everything is new, from the roof, siding, vinyl windows, and new concrete parking pads and driveway to all of the mechanicals and interior finishes. There are two 2-bedroom, 1-bath down units, each generating $1K per month. The entire second floor is a 3-bedroom unit with 2 FULL bathrooms and a covered porch. The 3-bedroom unit is currently vacant and listed for rent for $1500, which is what the previous tenant paid. All three kitchens have new cabinets with granite counters and newer stainless steel appliances including fridge/freezer, range, dishwasher and microwave. Each of the three units has Central AC and in unit washers and dryers. Owners pay all utilities and charge tenants a flat monthly fee. Total utility fees were generating $310/month when fully occupied. This will likely increase based on number of occupants who move into Unit 2. LEAD CERTIFICATE valid through April 2027. Termite and structural inspections were recently conducted. Reports are available in the supplements.

Features & Amenities

Interior

  • Total Bedrooms

    7

  • Bathrooms

    4

  • Above Grade Finished Area

    2159.0

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Central Air

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Vinyl Siding

  • Parking

    Driveway, Parking Pad

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.0971

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

Price

  • Sales Price

    $269,900

  • Tax Amount

    925.0

  • Sq. Footage

    2, 159

  • Price/SqFt

    $125

HOA

  • Association

    No

School District

  • Elementary School

    Cleveland Municipal - 1809

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Cuyahoga

Elementary School

Cleveland Municipal - 1809

Middle School

High School

Listing Courtesy of Sophie Boehlen , Premier Heights Realty LLC

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Completely remodeled 3-unit in 44103 has been grossing $3,500/month or $42,000/year! This property EASILY beats the 1% Rule and 10-Cap benchmark. Everything is new, from the roof, siding, vinyl windows, and new concrete parking pads and driveway to all of the mechanicals and interior finishes. There are two 2-bedroom, 1-bath down units, each generating $1K per month. The entire second floor is a 3-bedroom unit with 2 FULL bathrooms and a covered porch. The 3-bedroom unit is currently vacant and listed for rent for $1500, which is what the previous tenant paid. All three kitchens have new cabinets with granite counters and newer stainless steel appliances including fridge/freezer, range, dishwasher and microwave. Each of the three units has Central AC and in unit washers and dryers. Owners pay all utilities and charge tenants a flat monthly fee. Total utility fees were generating $310/month when fully occupied. This will likely increase based on number of occupants who move into Unit 2. LEAD CERTIFICATE valid through April 2027. Termite and structural inspections were recently conducted. Reports are available in the supplements.

1615 E 47th Street

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