3240 W 98th ST Cleveland, OH 44102
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5186026
HOA Y/N No
Year Built 1928
Annual Tax Amount $28,487
Tax Year 2025
Lot Size 10,454 Sqft
Acres 0.24
Property Sub-Type Apartment
Property Description
All Brick - 2 story low rise boasts: 17) unit with 5) main street level retail units with high visibility and 12) residential and 5) Retail.
Mix: 4) 2 bed/1bath, 7) 1 Bed/1 bath, 1) studio/1 bath and 5) retail
This offering presents a compelling investment opportunity in a mixed-use asset located minutes to Cleveland's downtown. The property comprises 12 well-maintained apartment units and 5 ground-floor retail shops, complemented by a private parking lot at the rear.
Highlights:
- CAP rate operates at 7.1% "As Is", with proforma at 8.9% small adjustments needed to be implemented.
- Great occupancy history.
_ Currently professionally managed would stay on.
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- Common area renovations included all common area, halls and entries newly painted, all new LED house lighting added for energy saving.
Location
State OH
County Cuyahoga
Rooms
Basement Apartment, Common Basement, Full, Finished, Concrete, Sump Pump, Storage Space, Walk-Up Access
Interior
Heating Heat Pump, Hot Water, Radiant, Steam
Fireplace No
Laundry Coin-operated
Exterior
Parking Features Assigned, Driveway, Outside, Paved, Parking Lot
Water Access Desc Public
Roof Type Asphalt,Fiberglass,Rubber
Present Use Multi-Family
Total Parking Spaces 12
Building
Story 2
Foundation Basement
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 017-19-010
Security Features Security System
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
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