0.85 Acres Lot
0.85 Acres Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Orchard Grove Allotment/G M Hick
MLS Listing ID 5117454
HOA Y/N No
Year Built 1949
Annual Tax Amount $5,191
Tax Year 2023
Lot Size 0.850 Acres
Acres 0.85
Property Sub-Type Mixed Use
Property Description
Each residential unit has undergone a comprehensive renovation, including: Brand new flooring + fresh paint, Updated light fixtures + 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, + a partially fenced backyard. The property also boasts a large parking lot,+ with two dedicated spaces per residential unit, + additional open land at the rear offering added privacy—an ideal feature on a quiet dead-end street. Residential Unit B includes a refreshed basement w/ generous storage + is currently rented on a 1-year lease at $1,250/month starting May 15. Residential Unit A is rent-ready and currently vacant, offering the flexibility to place your own tenant. (A prospective tenant is already identified and ready to pay $1,000/month, if the buyer chooses.) The commercial component consists of 3 garage bays (used as an 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 property manager for just $200/month, representing approximately 5% of gross income. Each residential unit is separately metered, + property will be delivered Point-of-Sale Compliant! With proximity to parks, major highways, healthcare facilities, retail, dining, + recreation, this is a highly desirable investment in a prime location!
Location
State OH
County Cuyahoga
Rooms
Basement Unfinished
Interior
Heating Gas
Cooling None
Fireplace No
Exterior
Parking Features Asphalt, Concrete, Parking Lot
Fence Chain Link, Full, See Remarks
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Total Parking Spaces 12
Building
Sewer Public Sewer
Water Public
Schools
School District Garfield Heights Csd - 1815
Others
Tax ID 546-38-042
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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