36
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$265,000
Est. payment /mo
0.85 Acres Lot
Active
7511 Jeffries AVE Garfield Heights, OH 44105
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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 5161606
HOA Y/N No
Year Built 1949
Annual Tax Amount $5,993
Tax Year 2024
Lot Size 0.850 Acres
Acres 0.85
Property Sub-Type Mixed Use
Property Description
Attention investors!! Fully occupied duplex with oversized garages, receiving additional income! Raking in $3,800 per month(15% ROI), this property is the perfect addition to your portfolio. Unit A rented at $1,050 , Unit B at $1,250, and garage spaces at $1,500 per month (long term tenant). Each residential unit has undergone a comprehensive renovation, including: Brand new flooring, fresh paint, updated light fixtures and 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, and a partially fenced backyard. The property also boasts a large parking lot, with two dedicated spaces per residential unit, and additional open land at the rear offering added privacy and space. Residential Unit B - 2 beds/ 1 bath. Unit A - 2 beds. 1 bath) The commercial component consists of 3 garage bays (used as 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 PM for just $200/month. Each residential unit is separately metered, property will be delivered Point-of-Sale Compliant! Crushing a 20% cash on cash return, this is a highly desirable investment in a prime location!
Location
State OH
County Cuyahoga
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Attached, Garage, Parking Lot
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Present Use Commercial,Mixed Use
Garage true
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 546-38-042
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Listed by Armani Adames • Russell Real Estate Services • adamesarmani.aa@gmail.com, 216-370-8550
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