Property Description

Seller has a professional management company and is offering 1 FREE YEAR OF PM FOR NEW OWNER!! PLEASE SEE SUPPLEMENTS FOR FULL OFFERING MEMORANDUM! The Lakewood 16 is an investor's dream! Not only will you be adding 16 TURNKEY units in one of the most desired investment locations in Cleveland, they're all NEXT DOOR to each other! Benefits include: easy to manage (current professional management company in place for smooth transition), all turnkey and updated (don't lift a finger), highly desirable rental area, properties will only keep appreciating and all properties have been well cared for and maintained. All units have been EXTENSIVELY renovated including white shaker cabinets, granite countertops, stainless steel appliances, refinished hardwood floors or LVP throughout and select bathrooms have gone through full updating including tile surrounds, new tubs/showers, new vanity/mirror, etc. All 2 and 3-bed units have brand new central air just installed and all 2-bed apartments come with a 1-car garage included in the rent (can potentially receive additional income for these). The new lucky owner will casually be bringing in over $230,000/year of gross collected rent from all four properties combined - who doesn't want that?! Please take note, the units have been very recently renovated/finished and the current professional management company is leasing the units out. The sellers will deliver the portfolio 90%+ occupied by time of sale transfer.

Property Features