1615 E 47th Street, Cleveland, OH 44103

• 7 beds |
• 4 baths |
• 2,159 sqft

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. Termite and structural inspections were recently conducted. Reports are available in the supplements.

Listing Status:

Active

Listing Office:

Premier Heights Realty LLC : 216-860-0005

Listing Agent:

Sophie Boehlen : 216-849-8032

MLS ID:

5156339

Interior

• Appliances: DryerDishwasherFreezerMicrowaveRangeRefrigeratorWasher
• Laundry: In Unit
• Basement: PartialUnfinished
• A/C: Central Air
• Heating: Forced Air

Exterior

• Parking: DrivewayParking Pad

Construction

• Roofing: AsphaltFiberglass
• General: Vinyl Siding2

Location

• Originating MLS: NOWDD_NORM
• School District: Cleveland Municipal - 1809
• County: Cuyahoga

Lot

• Zoning: 126 MCINTOSH 0053 SP104-25-069

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: NOWDD_NORM

This listing courtesy of Sophie Boehlen, Premier Heights Realty LLC