969 Nathaniel Rd Cleveland, OH 44110

Property Details for 969 Nathaniel Rd

Year built

1923

Lot size

0.18 lot acres

Property size

7,192 SF

Property type

Commercial real estate

APN

115-30-075

Description

This well-maintained, 5-unit apartment building in Cleveland, Ohio, presents a compelling investment opportunity. The property, located at 969 Nathaniel Rd, boasts 7,192 square feet on a 0.18-acre lot and features five recently renovated units: four 3-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit. All units are currently occupied at 100% occupancy, generating a substantial net operating income of $37,173. Individual gas furnaces are in place, with tenants responsible for their own gas and electric. Landlord responsibilities include water, sewer, and trash. The building features hardwood floors throughout, ample parking with a recently resurfaced lot, and active security measures including cameras. Conveniently located near I-90 and Collinwood High School, this solid brick, three-story building is lead-certified by the city of Cleveland. A sixth unit, currently used for storage, offers potential for additional rental income upon renovation. The property's strong financials, coupled with its desirable location and recent improvements, make it an attractive investment with a projected cap rate of 10%. Annual property taxes are approximately $3,000. The building is zoned C-Commercial. Parking is provided at a rate of 10 spaces per 1,000 square feet. The property was built in 1923 and has a Cuyahoga County APN of 115-30-075.