Active

1881 Noble Road

East Cleveland OH, 44112

$289,900


Active

Commercial

Built in 1925

The Noble Apt offers 7 units, featuring nearly all 2 bedroom units, each over 1000sq ft. The 7th unit is a vacant 1 bed unit with 885 sq ft located on the lowest level and will require a full renovation. The seller has made some Large Capx improvements that includes installing a new furnace, a new hwt, vinyl windows and a brand new sewer line. Unit 5 has recently under gone improvements to make it rent ready & the Flat roof has no issues. There are 6 full time security cameras that can transfer to new owner. Tenants are responsible for their own gas and electric. 5 units are currently are occupied at $3893/mo total. Placing the remaining 2 units would add 1500/mo! Once stabilized, this building will cashflow $5500/ mo. ($66,000 per year!) Expenses are low making your profits high.
Current income: Unit 1: 743 eden (3 years), Unit 2: 800 cash, Unit 3: 750 cash, Unit 4: 800 eden, Unit 5: vacant will be rent ready (800), Unit 6: $800 cash & Unit 7: Basement that requires renovation (market rent $700). NOI from the 6 -2 bed units alone is over $25,000/ year! For more information or to schedule your showing please contact the listing agent.

5015961

MLS ID

March 27, 2024

Listed

May 22, 2024

Updated

Map

1881 Noble Road
East Cleveland OH, 44112

Interior Features

Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Forced Air, Hot Water, Steam

Exterior/Building Features

Lot Size

0.21 Acres


Roof

Flat


Sewer

Public Sewer

School Information

School District

East Cleveland CSD - 1812

Other Property Details

Taxes

$3,122


Tax Frequency

Annually


Days on Market

57


Garage

No


Parking

Off Street, Outside, Paved, Parking Lot


View

No


County

Cuyahoga


Municipality

Cleveland


Water Source

Public


Pool

No


Buyer Agency Compensation

3.5%

Listing History

Date

Event

Price

5/22/2024

Price Change

$289,900

-4%

 

Courtesy of Keller Williams Citywide

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Katherine Jennings shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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