1881 Noble Road East Cleveland, OH 44112
The Noble Apt offers 7 units, featuring nearly all 2 bedroom units, each over 1000sq ft. The 7th unit is a vacant 1 bed unit with 885 sq ft located on the lowest level and will require a full renovation. The seller has made some Large Capx improvements that includes installing a new furnace, a new hwt, vinyl windows and a brand new sewer line. Unit 5 has recently under gone improvements to make it rent ready & the Flat roof has no issues. There are 6 full time security cameras that can transfer to new owner. Tenants are responsible for their own gas and electric. 5 units are currently are occupied at $3893/mo total. Placing the remaining 2 units would add 1500/mo! Once stabilized, this building will cashflow $5500/ mo. ($66, 000 per year!) Expenses are low making your profits high. Current income: Unit 1: 743 eden (3 years), Unit 2: 800 cash, Unit 3: 750 cash, Unit 4: 800 eden, Unit 5: vacant will be rent ready (800), Unit 6: $800 cash & Unit 7: Basement that requires renovation (market rent $700). NOI from the 6 -2 bed units alone is over $25, 000/ year! For more information or to schedule your showing please contact the listing agent.
- Property TypeCondo
- NeighborhoodHighland Park Allotment
- CountyCuyahoga
- Taxes$3,122
- HOA/Condo/Coop Fees$0
- Days on Site77 Days
- MLS StatusActive
- MLS ID Number5015961
- Home Size Source N/A
- Year Built1925
- Lot Size0.207 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Off StreetOutsidePavedParking Lot
- Sewer Public Sewer
- Basement ApartmentFullUnfinished
- Acreage 0.207
- Water Public
- Property Sub Type Apartment
- Attached Garage No
Interior Features
- Cooling None
- Heating Forced AirHot WaterSteam
Exterior Features
- Roof Flat
Community Features
- Township Cleveland