Active
1881 Noble Road
East Cleveland OH, 44112
$259,900
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
September 13, 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
118
Garage
No
Parking
Off Street, Outside, Paved, Parking Lot
View
No
County
Cuyahoga
Municipality
Cleveland
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
7/22/2024 | Price change | $259,900 -11% |
5/22/2024 | Price change | $289,900 -4% |
Courtesy of Keller Williams Citywide
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