Garfield Ave, 44108- Cleveland Multifamily | 6 Units | Vacant Value-Add

Cleveland Multifamily | 6 Units | Vacant Value-Add Opportunity
xxx00 Garfield Ave, Cleveland, OH 44108
 

ATTENTION MULTIFAMILY INVESTORS!
Here's an opportunity to acquire a vacant 6-unit apartment building in Cleveland's Glenville neighborhood, giving investors the ability to implement their own leasing strategy, tenant standards, and property management systems from day one.

🏚️ Property Highlights:

• Six-unit multifamily apartment building
• Mix of one- and two-bedroom apartments
• Approximately 7,992 SF building size
• Parcel #: 108-22-001
• Delivered vacant – no tenant transition issues
• Basement storage area
• Glass-block basement windows reportedly installed
• Roof reportedly replaced in April 2020 (buyer to verify)
• Furnaces and hot water tanks reportedly operational (buyer to verify)
• Opportunity to complete lease-up and stabilize cash flow

📈 Illustrative Rental Potential:
• 4 One-Bedroom Units @ $750/mo = $3,000/mo
• 2 Two-Bedroom Units @ $925/mo = $1,850/mo
• Total Scheduled Rent: $4,850/mo ($58,200/year)

💡 Upside Scenario:
Potential annual scheduled rents approaching $63,600/year based on:
• 4 One-Bedroom Units @ $825/mo
• 2 Two-Bedroom Units @ $1,000/mo

🏘️ Located in Cleveland's Glenville area (ZIP 44108), offering access to public transportation, employment centers, and a strong workforce-housing tenant base.

📞☎️ Call or text our team at: 215-395-6211
Showings by Appointment Only – Serious, Qualified Buyers Only.