3432 E 134th St - Apartments FOR SALE


Cleveland, OH 44120- Mount Pleasant
$539,000 USD
440-552-5858
3432 E 134th St, Cleveland, OH for Sale
$539,000 USD
Apartments - FOR SALE
1/13
null | 10.87% Cap Rate

3432 E 134th St
Cleveland, OH 44120
Mount Pleasant


HIGHLIGHTS

  • 11 Units / Currently 100% Occupied
  • 10.87% Cap Rate based on 2023 Actual NOI.
  • “Guaranteed” Rent, Stable & Reliable Tenant Base
  • Stabilized and Historically well performing property w/Recent Updates
  • Owner directs Immediate Sale of Portfolio to fund other Business opportunities!
  • Close to the Cleveland Clinic and Case Western Reserve University

OVERVIEW

Green Bridge Real Estate is pleased to present The 11 Unit 3432 East 134th Street Retail / Apartments located in Cleveland, Ohio 44120. The approx. 9,696 Sq.Ft, All-Brick, 2-Story Building on 0.149 acres, consisting of 11 units: One (1) One Bedroom, One Bath Unit; Seven (7) Two Bedroom, One Bathroom Units; One (1) Three Bedroom, One Bathroom Unit and Two (2) Approx. 700 Sq.Ft. Retail Storefronts. Owner directs Immediate Sale to fund other Business opportunities. The 11 Unit Building is currently 100% occupied. Landlord paid Trash, Water & Sewer. Some recent capital improvements include Newer Windows, Roof, Porches, Kitchens, Baths, and updated Electrical. The Current Net Annual Operating Income is $61,781 or a 11.46% Capitalization rate at the asking price of $539,000 ($49,000 per unit). The 2022 Capitalization rate based on Actual Income was 10.22%; 2023: 10.87%. 2 of the 9 Residential units are leased in conjunction with the Section 8 Subsidy Voucher program which provides partial / full housing assistance for low income individuals or families. This provides a stable, consistent tenant base with “guaranteed” rent payments. This is a Fantastic Opportunity to purchase a well maintained and high performing Apartment Building for a bargain price! LOCATION The 11 Unit 3432 East 134th Street Retail / Apartments is located in the Mount Pleasant neighborhood adjacent to the City of Shaker Heights to the North East. With easy access to I-77 to the West and Chagrin Road to the South, the apartments are only 4 miles from Little Italy, Case Western Reserve University and the Cleveland Clinic’s World Headquarters, and only 7 miles from Downtown Cleveland. RTA Public transportation is also readily available within the neighborhood with numerous bus stops within walking distance. The property benefits from its proximity to Shopping and amenities.

FOR SALE DETAILS

PRICE

$539,000 USD

PRICE/SF

$56 USD /SF

# OF UNITS

11

PRICE/UNIT

$49,000

CAP RATE

10.87%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

East 134th Street Retail / Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,132 SF

ZONING

Residential

APN/PARCEL ID

130-08-035

ASK ABOUT THIS PROPERTY

Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

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Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.