2295 Warrensville Center Road University Heights, OH 44118
Introducing an 8-unit brick building investment opportunity nestled in the coveted heart of University Heights – a rare gem in an ideal, prime location. Boasting proximity to educational institutions like John Carroll University (2-minute drive) and Notre Dame College (5-minute drive), as well as quick access to major healthcare centers – a 15-minute drive to Cleveland Clinic Main Campus and a 13-minute drive to University Hospital Main Campus. This property is strategically positioned for success no matter which way you look! The building features (4) 2-bed / 1-bath units with a proforma rent of $1, 150/month each and (4) 1-bed / 1-bath units with a proforma rent of $975/month each. Notably, 5 out of the 8 units have already been updated with new paint, vinyl flooring, and some kitchen and bathroom enhancements. Convenience is key, with on-site coin-operated laundry and 8 covered garage spots (currently not being charged for) – with potential conservative estimates of $50/unit/month for parking. Each unit is equipped with individual furnaces and hot water tanks, placing utility costs on tenants for electric and gas. The owner's responsibilities include water/sewer and snow removal. Unlock the investment's upside by increasing rents to market rates or targeting the student and medical professional rental markets, possibly through room-sharing arrangements. Don't miss this exceptional opportunity to invest in a well-located property with immediate income potential and room for future growth. See offering memorandum for additional details.
- Property TypeCondo
- NeighborhoodN/A
- CountyCuyahoga
- Taxes$22,216
- HOA/Condo/Coop Fees$0
- Days on Site94 Days
- MLS StatusActive Under Contract
- MLS ID Number5017120
- Home Size Source N/A
- Year Built1952
- Lot Size0.4804 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking CoveredGarage
- Sewer Public Sewer
- Number of Stories 222
- Acreage 0.4804
- Water Public
- Property Sub Type Apartment
- Attached Garage No
- Foundation Slab
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating Forced AirGas
- Laundry Features Coinoperated
Exterior Features
- Roof FlatSlate
Community Features
- Township University Heights