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12010 Union Avenue, Cleveland, OH
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10612D Providence Road
Suite 547
Charlotte, NC 28277
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Property Information*
Address 12010 Union Avenue
Cleveland, OH 44105
Cuyahoga County
Status Wholesale
Asking Price $48,000.00
Down Payment $48,000.00
Type Apartment
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Zillow Zillow
Property ID# 42378
Floors 2
Sq. Ft. 5580 sq ft
Year Built 1920
Garage None
Basement None
Lot Size 8840
Acreage .19
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Property Description*
This is a 6-unit apartment building that is all brick and is already gutted and ready for rehab.  The estimated rehab (depends on you) can be anywhere from $65K-$80K.  There is also an unfinished basement where it is already ready for you to put in a laundry room for more income and a maintenance office if wanted.

Originally built in 1920, but had some renovations done in 1938.

The property consists of:
5- 2 bedrooms, 1 baths 
1 - 1 bedroom, 1 bath

The building itself is 5580 sf and it sits on a lot that is 8840 sf.  

The bones of this property seem very good and it is on a concrete foundation.  This property has already been cleaned out and is ready for you to start the rehab process.

Public records states that there is 8 bathrooms, however, in walking the property there is really only 6. One for each unit.

This property will need a total rehab inclusive of the electrical, plumbing, flooring etc.  Word is that the roof was put on a few years ago.

The basement is 2790 sf and there is also a 790 sf garage

If you get this property to Section 8 standards, the units will bring in $550 (2 br) and $455 (1br)

The numbers look like this:
$48,000 Purchase Price
$80,000 Rehab
$128,000 All In
$3,205 Monthly Rent
$38,460 Yearly Gross
$ 3,846 Property Management (10%)
$ 1,923 Maintenance (1/2 % of yearly gross)
$ 2,128  Taxes
$ 3,600 Insurance
$26,963 Net Yearly
.3370 ROR by Number
33.70%  ROR by %

Based on these numbers, if you're a numbers guy, you'd be foolish not to take advantage of this.
Equal Housing Opportunity*DISCLAIMER: All information provided by seller is deemed reliable but is not guaranteed and should be independently verified. Please contact the seller for additional information.

 

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