1905 Fulton Rd Cleveland, OH 44113

Property Details for 1905 Fulton Rd

Year built

1914

Lot size

0.00 lot acres

Property size

977 SF

Property type

Residential income homes

Description

This stabilized multifamily investment opportunity presents a 1-unit condominium located at 1905 Fulton Rd, 1B, Cleveland, OH 44113, in the desirable Ohio City neighborhood. The property, built in 1914 and extensively renovated in 2021, boasts 977 square feet and features a 2-bedroom unit with a direct view of Library Park. Recent upgrades include refinished floors, updated kitchen with stainless steel appliances, granite countertops, and a ceramic tile backsplash. A recently installed stacking washer/dryer adds convenience. The formal dining room overlooks a fenced rear garden and includes a pass-through from the kitchen and a plate rail. A renovated bathroom features retro-style hexagonal ceramic tile and modern fixtures. Additional amenities include a covered front balcony, a storage locker in the common basement, and assigned off-street parking. The property is currently leased at $1,550 per month (plus utilities) through June 1, 2025, with only two tenants in the past five years, demonstrating high tenant retention. The property sits on a 0.001-acre lot, is a 4-story building, and is zoned for condominium use. The asking price is $210,000, representing a price per square foot of $214.94 and a strong 8.86% cap rate with a current Net Operating Income (NOI) of $18,600 and 100% occupancy. The APN is 00336804. This is an exceptional opportunity for investors seeking a stable, high-return investment in a prime Cleveland location.