OH > Cleveland > A C Spears Sub #3
Cleveland, OH 44120,14520 Milverton RD
Cleveland, OH 44120,14520 Milverton RD
Cleveland, OH 44120,14520 Milverton RD
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$940,000
Est. payment /mo
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0.29 Acres Lot
Pending

14520 Milverton RD Cleveland, OH 44120

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Lorrie Raymond

Lorrie Raymond

+1(740) 381-7793

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

Subdivision A C Spears Sub #3

MLS Listing ID 5115330

HOA Y/N No

Year Built 1958

Annual Tax Amount $20,188

Tax Year 2024

Lot Size 0.292 Acres

Acres 0.292

Property Sub-Type Apartment

Property Description

Incredible opportunity to acquire this 18-unit multifamily property boasting over 90% occupancy and numerous recent updates! Priced at an attractive cap rate of over 8% based on current financials, this asset offers immediate strong returns with the potential to exceed an 11% cap rate through a simple value-add strategy—just bump rents upon lease renewals. The building features 12 spacious one-bedroom units and six two-bedroom units, all with open floor plans and plenty of on-site parking for residents! Tenants cover their own electric via baseboard heating, while ownership is only responsible for water, sewer, and common area electric. This is a low-maintenance, easy-to-stabilize investment with solid cash-on-cash returns and a great price per door—perfect for investors seeking upside with minimal effort.

Location

State OH

County Cuyahoga

Interior

Heating Baseboard, Electric

Fireplace No

Exterior

Water Access Desc Public

Roof Type Composition,Flat

Present Use Residential,Single Family

Building

Sewer Public Sewer

Water Public

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 130-18-138

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Tal Tamir • Russell Real Estate Services • tal@premierclevelandinvesting.com 216-870-8687

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agent

Lorrie Raymond

OH/REALTOR®, Steubenville manager, WV/Salesperson | License ID: SAL.2018004006, WVS230302470

+1(740) 381-7793

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