7511 Jeffries AVE new Save Request In-Person Tour Request Virtual Tour
Garfield Heights,OH 44105
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 6,660 sqft
Price per Sqft $39
Subdivision Orchard Grove Allotment/G M Hick
MLS Listing ID 5161605
Bedrooms 4
Full Baths 2
HOA Y/N No
Abv Grd Liv Area 6,660
Year Built 1949
Annual Tax Amount $5,993
Tax Year 2024
Lot Size 0.850 Acres
Acres 0.85
Property Sub-Type Duplex
Stories One
Story One
Property Description
Attention investors!! Fully occupied duplex with oversized garages, receiving additional income! Raking in $3,800 per month(15% ROI), this property is the perfect addition to your portfolio. Unit A rented at $1,050 , Unit B at $1,250, and garage spaces at $1,500 per month (long term tenant). Each residential unit has undergone a comprehensive renovation, including: Brand new flooring, fresh paint, updated light fixtures and modern hardware, refinished ceilings, complete kitchen, bath remodels, new furnaces & hot water tanks, updated electrical panels, newer sump pump, numerous newer windows and newer Roof! Exterior highlights include durable vinyl siding, private entrances, and a partially fenced backyard. The property also boasts a large parking lot, with two dedicated spaces per residential unit, and additional open land at the rear offering added privacy and space. Residential Unit B - 2 beds/ 1 bath. Unit A - 2 beds. 1 bath) The commercial component consists of 3 garage bays (used as auto/mechanic shop) leased together at $1,500/month on a new five-year lease beginning June 1 with 3% annual increases. The garage also includes a private office, the tenant—who has been occupying the space for over six years—has expressed interest in staying on as PM for just $200/month. Each residential unit is separately metered, property will be delivered Point-of-Sale Compliant! Crushing a 20% cash on cash return, this is a highly desirable investment in a prime location!
Location
State OH
County Cuyahoga
Rooms
Basement Full,Unfinished
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Additional Parking,Attached,Detached,Garage,Parking Lot
Garage Spaces 6.0
Garage Description 6.0
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 546-38-042
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange