$1,925,000 15432 Lake Shore Boulevard, Cleveland, OH 44110
- Neighborhood
- Thompson
MLS #: 5037580
-
- Status
- Active
-
- Property Type
- Commercial Sale
-
- Days on Market
- 49
-
- Lot Size
- 0.3411
-
- County
- Cuyahoga
Description
ABSOLUTELY GORGEOUS!! The perfect addition for any real estate portfolio. Completely renovated top to bottom - Newer: plumbing, electric, HVAC, roof, gutters and vinyl windows (120 of them!!). 19 unit apartment building (6 - studio, 8 - 1 Bed, 5 - 2 bed units) with 3 retail storefronts and an office space. Incredible occupancy rate - apartments will be 100% occupied by the end of the month. Adjacent parcel also included providing 13 - 16 parking spaces. Literally, every unit was gutted and remodeled. Each unit boasts refinished hardwood floors, 8 ft ceilings, updated kitchens (include: refrigerator, stove and microwave), updated bathrooms, in unit tank-less water heaters, furnaces and electric panels. Retail storefronts have also been completely renovated. Current gross rent w/ laundry is $190,992 - this does not include the office space (owner occupies) or the "rent ready" 2850 Sqft vacant retail storefront. ENORMOUS POTENTIAL for INCREASED INCOME: (1) Current rents are well below CMHA rental benchmarks (2) 5000 Sqft basement could be converted to add 4 additional 2 bedroom units and a 1 bedroom unit (3) Charging for parking spaces - $50 per month. Current cap rate 7.85 - could be considerably higher. Located in a high traffic and high rental demand area. Close to highway access, minutes from downtown Cleveland, close to Cleveland Clinic, University Hospital, Euclid Hospital, Lake Erie parks and beaches, restaurants, shopping and public transit. This is an exceptional property, location and opportunity!!!
-
- Year Built
- 1920
-
- Stories
- 3.0
-
- Parking Features
- Additional Parking, No Garage, Parking Lot
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- Living Area
- 27216.0
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- Cooling
- Central Air
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- Heating
- Forced Air, Hot Water, Steam
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- Acres
- 0.3411
-
- Water
- Public
-
- County
- Cuyahoga
-
- City
- Cleveland
-
- Neighborhood
- Thompson
-
- Zip Code
- 44110
Schools
15432 Lake Shore Boulevard, Cleveland, OH, 44110
MLS# 5037580 - Cleveland , OH Commercial Sale for sale in Thompson
This Commercial Sale for sale with bedrooms and bathrooms has 27,216.0 sq/ft is located at 15432 Lake Shore Boulevard, Cleveland, OH, 44110 and has a list price of $1,925,000.0. This property is located in Cuyahoga County on 0.3411 acres.
View additional information about 15432 Lake Shore Boulevard below. The information is provided by the listing broker and will include type of construction, school information, taxes, property interior and exterior details, waterfront view information, and any neighborhood amenity details that you will find in Thompson.
If you would like to request more information on 15432 Lake Shore Boulevard please contact our ez Home Search team. We are available to help you with MLS 5037580, or any other Thompson Commercial Sale for sale in Cleveland, OH that meets your search criteria. Please continue to use our website to search for real estate in the Cleveland area!
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15432 Lake Shore Boulevard, Cleveland, OH 44110
Listing information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Copyright 2024, MLS Now. All rights reserved.
Last Updated: June 30, 2024 | Source: MLS Now | MLS#: 5037580