2073 Broadview Rd,  Cleveland OH, 44109

(Active)
$259,900
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|
MLS# 3927211
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Description for 2073 Broadview Rd Cleveland, OH 44109 - $259,900
A renovated apartment building with SELLER FINANCING!!! Do not miss out on this very RARE opportunity. The seller purchased this almost entirely vacant and highly distressed asset in cash in 2016 and has had Holton-Wise handling the management and renovations since. Now that the project is almost entirely complete and the building is running like a well oiled machine it is time for the seller to recoup his cash and collect the interest on the mortgage he is holding. What this means for you is the opportunity to step in right after all the dirty work has been completed. HIGHLIGHTS: Mortgage Terms 50% down payment Amortized over 20 years with a 5 year balloon at 6% interest. Rent Roll Unit 1 3 beds /1 bath. (Over 1k sq ft) Renovation under way. Market rent $750/mo Unit 2 1 bed / 1 bath. Currently leased $535/mo Unit 3 1 bed / 1 bath. Currently leased $495/mo Unit 4 3 beds / 1 bath. Currently leased $725/mo Unit 5 2 beds / 1 bath. Currently leased $625/mo Unit 6 Retail. Currently leased by a Barbershop for 5 years. The business owner is making renovations to the unit and the rent is tiered. The rent will top out at $700/mo Total Gross Rent $3,830/mo Each unit is separately metered for gas and electric (Tenants pay) Over $100,000 worth of work performed by Holton-Wise since 2016. Including a brand new $50,000 roof in 2017 Current property taxes $4,377/year Owner pays water & sewer As this was a complete renovation there are no historical financials.
Price
$259,900
Brkhts
Cuyahoga
3927211
Active
Description
A renovated apartment building with SELLER FINANCING!!! Do not miss out on this very RARE opportunity. The seller purchased this almost entirely vacant and highly distressed asset in cash in 2016 and has had Holton-Wise handling the management and renovations since. Now that the project is almost entirely complete and the building is running like a well oiled machine it is time for the seller to recoup his cash and collect the interest on the mortgage he is holding. What this means for you is the opportunity to step in right after all the dirty work has been completed. HIGHLIGHTS: Mortgage Terms 50% down payment Amortized over 20 years with a 5 year balloon at 6% interest. Rent Roll Unit 1 3 beds /1 bath. (Over 1k sq ft) Renovation under way. Market rent $750/mo Unit 2 1 bed / 1 bath. Currently leased $535/mo Unit 3 1 bed / 1 bath. Currently leased $495/mo Unit 4 3 beds / 1 bath. Currently leased $725/mo Unit 5 2 beds / 1 bath. Currently leased $625/mo Unit 6 Retail. Currently leased by a Barbershop for 5 years. The business owner is making renovations to the unit and the rent is tiered. The rent will top out at $700/mo Total Gross Rent $3,830/mo Each unit is separately metered for gas and electric (Tenants pay) Over $100,000 worth of work performed by Holton-Wise since 2016. Including a brand new $50,000 roof in 2017 Current property taxes $4,377/year Owner pays water & sewer As this was a complete renovation there are no historical financials.
Listing Information
Property Type: Mixed Use, Other
0.13 Acres $0 1920
Cleveland-//
Brkhts
Public Water Service
Public Sewer
Neighborhood
Room Information
Interior Features
Gas Heat, Hot Water, Forced Air
3
Exterior / Lot Features
Street Parking
Driving Directions
Corner of Roanoke and Broadview Road
Financial Considerations
014-21-034
$4,377
Listing Price History

Cleveland Real Estate

Cleveland is located in Ohio. Cleveland, Ohio 44109 has a population of 388,072.

The median household income in Cleveland, Ohio 44109 is $26,179. The median household income for the surrounding county is $44,203 compared to the national median of $53,482. The median age of people living in Cleveland 44109 is 35.9 years.

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Courtesy: James Wise - The Holton-Wise Property Group James Wise
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of NEOHREX. Real estate listings held by brokerage firms other than the owner of this site are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2017 NEOHREX. All rights reserved.
Information is deemed reliable but is not guaranteed.

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