Listing ID: 47043

Business Overview

Turnkey fully renovated & fully rented 11-unit apartment building bringing in $6839, per month. Tenants pay for their own heat, electricity & are all on written leases. This building known as “The Lindy” was completely renovated in 2018-2019 with all proper city permits making it City of Cleveland compliant. The list of upgrades includes removing the master boiler & install 12 high-efficiency furnaces, a new quick recovery water tank, new vinyl windows, glass block, rebuilt egress decks/walkways, new fence, all new LED lighting throughout with motion sensor lights in common areas & proper emergency lighting, completely updated electrical service, 12 meters & sub-panel in each unit. All units have been renovated with new kitchens, bathrooms, freshly painted, new durable vinyl planked flooring, new plumbing & LED lighting fixtures & freshly painted. Updated laundry area with coin-operated laundry. Locked storage area for maintenance staff with private commode. 3-car covered parking could be rented for additional income.

Financial

Seller Financing Available

  • Asking Price: $650,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: No
  • Established: 1927

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:8,460
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A