Sold
Last Sold Price
8 beds3,789 sqft$61/sqft
1187 Addison Road, Cleveland, OH 44103
Multi FamilyProperty Type
7,400 sq ftLot Size
1900Year Built
$61/sq ftPrice per sq ft

Description

Discover an exceptional investment opportunity with this well-maintained 4-unit property, perfect for both experienced investors and first-time buyers. Located in a vibrant Cleveland neighborhood, this property is surrounded by amenities that will appeal to tenants and owners alike. The unit passed FHA inspection a year and a half ago, ensuring top-notch quality and safety. The yearly revenues could be $46,104 with full occupancy. Potential buyers can live rent-free in the unoccupied unit while generating...Discover an exceptional investment opportunity with this well-maintained 4-unit property, perfect for both experienced investors and first-time buyers. Located in a vibrant Cleveland neighborhood, this property is surrounded by amenities that will appeal to tenants and owners alike. The unit passed FHA inspection a year and a half ago, ensuring top-notch quality and safety. The yearly revenues could be $46,104 with full occupancy. Potential buyers can live rent-free in the unoccupied unit while generating income from the other three units. There is an opportunity to increase rents, enhancing your return on investment. The roof was repaired within the last two years. The foundation is completely dry, a rare and valuable feature in this area. As well as all other major components being in working condition. This property is also section 8 approved. The property has easy access to shopping, dining and entertainment. There are nearby parks that offer green spaces for outdoor activities. Also close to public transportation which makes it convenient for commuting. Don't miss out on this prime investment property that offers both immediate income and future growth potential. Schedule your viewing today and explore the endless possibilities this property has to offer!
  • Listed by: Alphadetta Briscoe 216.533.4307 a.briscoe@kw.com • Keller Williams Greater Metropolitan
Listing closed: 08/14/2024 12:00 AM • Source: MLS Now, MLS#: 5052011

Location

Listing Courtesy of Keller Williams Greater Metropolitan

Sold By Russell Real Estate Services

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Payment Calculator

$1,363 per month

30 year fixed, 6.55% Interest

Principal and Interest

$1,179

Property Taxes

$184

HOA Dues

$0

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Property Information for 1187 Addison Road

Property Details
  • Taxes: $2,204 / year
  • MLS Type: Residential Income / Quadruplex
  • Subdivision Name: W H G J & E Heckers Sub
  • Has Waterfront: No
Building Information
  • Stories: 3
  • Year Built: 1900
  • Lot Size: 0.17 AC / 7,400 SF
Summary
Location and General Information
  • Directions: Take 77 N to 90 E to exit 173C which is Superior Ave then follow to Addison Rd.
  • Latitude: 41.521717
  • Longitude: -81.641746
  • Township: Cleveland
Taxes and HOA
  • Parcel Number: 105-25-111
  • Tax Annual Amount: $2,203.60
  • Tax Legal Description: 344 HECKER 0023 NWP
  • Tax Year: 2023
School Information
  • Elementary School District: Cleveland Municipal - 1809
  • High School District: Cleveland Municipal - 1809
  • Middle or Junior School District: Cleveland Municipal - 1809
Parking
  • Attached Garage: No
  • Carport: No
  • Garage: No
  • Parking Features: Driveway, On Street
Property
Lot Information
  • Lot Size Acres: 0.1699
  • Lot Size Area: 0.1699
  • Lot Size Source: Assessor
  • Lot Size Units: Acres
Property and Assessments
  • Above Grade Finished Area: 3789.0
  • Above Grade Finished Area Source: Assessor
  • Living Area: 3789.0
  • Living Area Units: Square Feet
  • Year Built: 1900
  • Year Built Source: Public Records
Building Features
  • Construction Materials: Aluminum Siding
  • Levels: Three Or More
  • Number of Buildings: 1
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Basement: Concrete
  • Has Basement: Yes
  • Full Bathrooms: 4
  • Half Bathrooms: 0
  • Total Bathrooms Integer: 4
  • Total Bedrooms: 8
  • Cooling: Ceiling Fans
  • Heating: Forced Air
  • Has Heating: Yes
  • Main Level Bathrooms: 0
Exterior Features
  • Private Pool: No
  • Roof: Flat
  • Stories: 3
Multi Family
Income & Expenses
  • Gross Income: $3,842.00
  • Operating Expense: $905.50
Unit Information
Unit 1
  • Actual Rent: $996.00
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Unit 4 Second Floor
  • Leased: Yes
  • Lease Expires: 02-27-2025 07:00:00 PM
  • Occupant Type: Occupied
  • Type: Two Bedroom
Unit 2
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Unit 3 Second Floor
  • Leased: No
  • Occupant Type: Vacant
  • Type: Two Bedroom
Unit 3
  • Actual Rent: $896.00
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Unit 2 First Floor
  • Leased: Yes
  • Lease Expires: 10-30-2024 08:00:00 PM
  • Occupant Type: Occupied
  • Type: Two Bedroom
Unit 4
  • Actual Rent: $850.00
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Unit 1 First Floor
  • Leased: Yes
  • Lease Expires: 03-30-2025 08:00:00 PM
  • Occupant Type: Occupied
  • Type: Two Bedroom

Property History for 1187 Addison Road

DateEvent & SourcePriceAppreciation
Aug 14, 2024

Sold

MLS Now #5052011

$232,000
Aug 13, 2024

Sold (Public Record)

Public Record #1538848979

$232,000

+21.1% / yr

Jul 16, 2024

Contract Signed

MLS Now #5052011

DateEvent & SourcePrice
08/14/2024

Sold

MLS Now #5052011

$232,000
08/13/2024

Sold (Public Record)

Public Record #1538848979

$232,000

+21.1% / yr

07/16/2024

Contract Signed

MLS Now #5052011

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 1187 Addison Road

Taxable ValueLand$2,975Additions$24,780Total$27,755
Tax Record2025$3,129 ($261 / month)
Home Facts
Baths6Total Finished SqFt3,789 SqFtAbove Grade Finished SqFt3,789 SqFtStories2Lot Size7,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1900Year Renovated1952Zoning2FCountyCUYAHOGAAPN105-25-111

Schools near 1187 Addison Road

This home is within Cleveland Metropolitan School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - PK to 8
Public - PK to 8
Rating
School
Distance
Wade Park School
PublicPK to 8

Campus International High School
Public9 to 12

Willson School
PublicPK to 8

Daniel E Morgan School
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Keller Williams Greater Metropolitan

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