Wholesale

Fourplex in Cleveland, OH - Fully Occupied - TEXT 234 738 0276

11108 Ashbury Ave, Cleveland, OH 44106

$600,000 After Repair Value -
$525,000 Asking Price -
$38,160 Cost of Repairs =
$36,840 Potential Profit

Property Details

Asking Price $525,000

After Repair Value $600,000

Costs of Repairs $38,160

Potential Profit $36,840

Living Area 3816 ft2

Property Type 4-Plex

Bedrooms +6

Bathrooms 4

Half Bathrooms N/A

Parking 0

Listed with Agent 0

EPI (Estimated Potential Income)

Potential Rental Income $96,000

Yearly Expenses $0

Property Taxes $0

Net Operating Income $0

Cap Rate 9.43

Property Description

11108 Ashbury Ave, Cleveland, OH 44106 - Fourplex Wholesale Deal Asking Price: $525,000 | ARV: $600,000 Fourplex with 4 units - each unit is 2 bed / 1 bath. 8 beds / 4 baths total, 3,816 sqft, 8,400 sqft lot, built 1900. Fully occupied under a master lease. Current rent: $6,400/mo Market rent: $8,000/mo Repairs estimate: $38,160 - light cosmetic. Interiors updated 2019 to 2021. Mechanicals replaced 2020. Roof replaced 2015. Owner bills back 100% of utilities. Manager charges 5%. Cap rate: 9.43% current / 11.76% pro forma. DSCR: 1.48. For funding, complete the LVVI funding application form. Contact 234.738.0276 for more information. Collective Closing Team. This is an assignment of contract.

Repairs Needed

Light cosmetic repairs.

CONTACT LISTING OWNER

Greg Simpson

Free Member

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