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$ 1,100,000
$ 1,200,000 8.3%
0.27 Acres Lot
$ 1,100,000
$ 1,200,000 8.3%
0.27 Acres Lot
Key Details
Sold Price $1,100,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Subdivision M M Browns
MLS Listing ID 5111928
Sold Date 08/28/25
HOA Y/N No
Year Built 1915
Annual Tax Amount $26,206
Tax Year 2024
Lot Size 0.268 Acres
Acres 0.2683
Property Sub-Type Mixed Use
Property Description
This property offers multiple income streams, consisting of six fully occupied, updated apartments, two commercial spaces, and two storefronts. The large commercial storefront is currently occupied by Pacific East, a renowned Japanese restaurant that has just signed a 10-year lease extension, providing long-term stability for investors. The residential units have been thoughtfully upgraded with refinished hardwood floors, fresh paint, modernized kitchens and bathrooms, in-unit laundry, central air, and individual furnaces and water tanks. Additionally, vinyl windows and separate utility meters further enhance the property's efficiency. Residents also benefit from ample on-site parking—an invaluable asset in this highly sought-after neighborhood.
From a financial perspective, this property delivers immediate, strong returns with a 9% cap rate and double-digit cash-on-cash returns from day one. The two vacant storefronts offer additional value-add potential, allowing for further income growth once tenants are secured.
This is a rare opportunity to acquire a cornerstone asset in Coventry Village—an established, high-demand location that offers immediate cash flow and long-term appreciation potential. Don't miss out on this exceptional investment.
Location
State OH
County Cuyahoga
Rooms
Basement Full, Storage Space
Interior
Heating Hot Water, Steam
Cooling Central Air
Fireplace No
Exterior
Parking Features On Site, Off Street, Paved
Water Access Desc Public
Roof Type Composition,Flat
Present Use Multi-Family,Residential,Single Family
Building
Foundation Basement
Sewer Public Sewer
Water Public
Schools
School District Cleveland Hts-Univer - 1810
Others
Tax ID 684-04-001
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing 1031 Exchange
Special Listing Condition Standard
Bought with Tal Tamir • Russell Real Estate Services
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