1615 E 47th ST new Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44103
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,159 sqft
Price per Sqft $125
Subdivision Alexander Macinthosh Allotment
MLS Listing ID 5156339
Bedrooms 7
Full Baths 4
Construction Status Updated/Remodeled
HOA Y/N No
Abv Grd Liv Area 2,159
Year Built 1880
Annual Tax Amount $925
Tax Year 2024
Lot Size 4,229 Sqft
Acres 0.0971
Property Sub-Type Triplex
Property Description
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
Location
State OH
County Cuyahoga
Rooms
Basement Partial,Unfinished
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Appliance Dryer,Dishwasher,Freezer,Microwave,Range,Refrigerator,Washer
Laundry In Unit
Exterior
Parking Features Driveway,Parking Pad
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Construction Status Updated/Remodeled
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 104-25-069
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange