$119,900

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10731 Elmarge Avenue Cleveland, OH, United States 44105

Welcome to this great investment opportunity! This rare and fully occupied side-by-side duplex, boasts an over 10% cap rate AS-IS, delivering nearly 20% cash-on-cash return. Each of the well-maintained units features a 2-bedroom and 1-bathroom layout, occupied by dependable Section 8 tenants. With a combined gross rent of $1,716 per month – $910 from one tenant under lease until February 2024 and $806 from the other, who has resided here for many years on a month-to-month lease – this investment is primed for continued stable returns. The savvy investor will appreciate the tenant-paid utilities, with occupants responsible for electric and gas while the owner covers water and sewer expenses. Mechanicals are in excellent condition, showcasing furnaces dating from 2007 and 2013, along with hot water tanks from 2012 and 2022. The property’s roof is currently in the middle of its life expectancy and is still in great condition. With various updates completed over the years, this duplex promises a secure and lucrative investment opportunity for those seeking reliability and long-term value. Don't miss your chance to own this income-generating asset!

Amenities

  • Bedrooms: 4
  • Full Bathrooms: 2
  • Property Type: Single Family
  • Architectural Style: Other
  • Home size: 2,280 ft2 / 211.82 m2
  • MLS: 5006651
  • Web ID: Q4BG3J
  • Status: Pending
Copyright © 2024 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Property brokered by

Russell Real Estate Services

(800) 556-6530

Get more listing details on brokerage site

Presented by Tal Tamir

  • (216) 870-8687
  • (440) 526-9400 (Office Phone)

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