8201 Madison AVE Pending Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44102
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Subdivision Taylor
MLS Listing ID 5031904
HOA Y/N No
Year Built 1918
Annual Tax Amount $7,340
Tax Year 2023
Lot Size 7,161 Sqft
Acres 0.1644
Property Description
Introducing a promising investment opportunity in the up-and-coming "West 80’s" neighborhood, adjacent to Edgewater in Detroit Shoreway on Cleveland's west side! This all-brick 6-unit property offers individual furnaces and hot water tanks, along with updated electrical panels for added convenience and efficiency. Currently, two units await light turns to make them rent-ready, mainly requiring flooring and minor touch-ups. With four units already occupied, the property collects a total gross monthly rent of $3,190. However, upon full occupancy at market rents, the potential monthly income could soar to $6,000. Each unit features a comfortable 2-bed/1-bath layout, ensuring broad appeal to prospective tenants. Notable updates include the replacement of all six water tanks within the last five years and the recent replacement of two furnaces, with the remaining four furnaces in satisfactory working condition. Don't miss the chance to capitalize on this opportunity in a neighborhood on the rise, offering both immediate returns and long-term potential for growth!
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Forced Air,Gas
Cooling None
Fireplace No
Exterior
Water Access Desc Public
Roof Type Composition,Flat
Present Use Residential
Building
Sewer Public Sewer
Water Public
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 006-03-031
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange
Special Listing Condition Standard