18 Units and 3 Bottom Store Fronts For Sale

  • $695,000
  • 9,168 sqft sqft

3206 W 100th St. Cleveland OH 44111 and 3 Storefront Units & 18 Residential Apts.

Named for the broad thoroughfare wending south from Lake Erie, West Boulevard offers residents a park-like feel with mature landscaping and spacious lawns. Described by locals as a “front porch” neighborhood, homes for rent include charming one- and two-story dwellings dating from the early 1900s. Hardly hidden, but a neighborhood gem all the same, Halloran Park features the city’s first water playground and provides the area’s only ice skating rink.

Residents of West Boulevard shop at the neighborhood Berea Road/West 117th shopping complex where suburban style meets local convenience. Neighborhood dining includes Mexican, Cambodian, and German eateries.

Property is located between Interstate 90 and Interstate 71 and just a few blocks away from prestigious Edgewater and Lake Erie.

Property Features:
Newer torch down composition shingle roof
Approximately 25 new window will be installed
Property will include all repairs to satisfy Section 8 inspections

Property Details:
Store, Retail Outlet
Home Size: 9,168 sqft
Lot Size: 10,825 sqft
Built in: 1918
Basement Sq Ft: 2,538
Parking: Street
Laundry: Yes

Annual Income (not including laundry)
$9,900 mo. / 18 units x $550
$1,500 mo. / 3 store fronts
$11,400 mo. / 136,800 gross income

Annual Expenses:
$10,000 Water
$1,200 Electric
$10,000 Gas
$3,000 Dumpsters
$6,840 Vacancy @ 5%
$6,840 Maintenance @ 5%
$10,944 Management @ 8%
$6,134 Property Taxes
$4,608 Property Insurance
($59,566) Annual Expense
$77,234 Annual Net Income ($6,436 per month)
11.1% Cap Rate
19.3% Cash-on-Cash

Purchase Price:
$695,000.00

Seller Financing Terms:
Down: $420,000.00
Owner Carry: $275,000.00
Loan: 10 year amortization, 5 year balloon @ 6%
Monthly Payment: $3,053.06

 

*ROI is determined by cash flow, market appreciation, tax savings, principal pay down, and rental income. Past performance is no guarantee of future results and individual results may vary. The information and any statistical data contained herein have been obtained from sources which we believe to be reliable, but we do not represent that they are accurate or complete, and they should not be relied upon as such. All opinions expressed and data provided herein are subject to change without notice. Past performance is no guarantee of future results, and current performance may be lower or higher than the performance data quoted. Results shown here are not typical, results will vary based upon real estate prices, interest rates, creditworthiness and many other factors.

Price:
$695,000
Address:
3206 W 100th St.
Cleveland, Ohio 44111
Square Feet:
9,168 sqft
Lot Size:
10,825 sqft
Terms:
For Sale
Property Type:
Commercial
Year Built:
1918
Basement:
2,538
Const. Type:
Commercial/Store, Retail Outlet

Call 888-234-9828 for more details

Property Location

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