3206 100Th St Cleveland, OH 44111

Property Details for 3206 100Th St

Year built

1918

Property size

15,228 SF

Property type

Commercial real estate

Description

This turnkey 21-unit apartment building at 3206 W 100th St, Cleveland, OH 44111, presents a compelling investment opportunity. The property, built in 1918 and totaling 15,228 square feet, boasts a diverse unit mix including four studios, three storefronts, eight two-bedroom units, and six one-bedroom units. Recently completed renovations encompass all major systems: electrical, plumbing, roofing, and windows. Modern finishes such as LVP flooring, tiled showers, and updated lighting enhance the appeal. High-efficiency electric heating systems have been installed in each unit, with tenants responsible for utilities, resulting in projected operating expenses of approximately 40% of annual income. The property is currently undergoing leasing to establish a strong cash flow prior to sale, ensuring a smooth transition for the new owner. Projected annual income is nearly $240,000. The West Boulevard neighborhood offers a desirable blend of urban convenience and neighborhood charm, with proximity to major employers, transit, shopping, and dining. A convenient closing is available, contingent upon the completion of remaining work by January 2025. This property represents a high-quality, passive income investment in a sought-after Cleveland location. The asking price is $1,950,000.