Turnkey properties
2 Bed | 2 Bath | 2,022 Sqft
Purchase Price $208,900.00
| Property Type | Cap Rate | Cash on Cash Return |
|---|---|---|
|
Multi-Family |
7% |
5.32% |
| Current Status | Current Rent | Lease Term | Utilities |
|---|---|---|---|
|
Vacant |
$1,850 |
- |
Tenant Pays Gas & Electric |
Major Renovations:
– Fully painted interior
– Refinished hardwood flooring – Full sand, 3 coats of stain and polyurethane
– New kitchen
– New custom cabinets (cabinets in UP unit were preserved & restored due to condition & style)
– Granite countertops
– LVP flooring
– Stainless steel sink, faucet, dishwasher
– New bathroom
– New custom tile surround
– Plumbing valves/fixtures, faucets, toilet
– New vanity
– New exhaust fans
– Custom open shelving
– New interior and exterior light fixtures
– Stabilized foundation with installation of 10 steel columns/posts
– New hardware, lock change, on interior and exterior doors
– Landscaped, including removing all overgrowth, mulching, edging and grading of soil for proper water intrusion prevention
– New switches and outlets
– New basement glass block windows
– New concrete driveway, service walk and patio
– New posts for rear balcony
– Front balcony and rear balcony flooring replaced
– Fully painted exterior – with two-tone color scheme
– New stainless steel appliances in down unit (stove/range, microwave, dishwasher, fridge)
– New drywall in kitchen & bathrooms
– New electrical in kitchen & bathrooms
– New hot water heaters (2)
– New furnaces (2)
– New plumbing drain lines from 2nd floor to basement (bathroom and kitchen plumbing drain lines)
– New garage doors (2)
– New roof on house & garage (full tear off included)
– New interior and exterior light fixtures – mostly LED lights were installed
– New interior ceiling fans installed
– New laundry tubs (2)
– Updated 100amp electrical panels and exterior service/masts
– Repairs to garage siding, soffits and gutters
– Installation of code conforming handrails, smoke/CO detectors, gas lines, lock sets, etc
– Fully furnished lower unit for STR purposes
Our property management division, RE/MAX Haven Property Management, manages a portfolio of thousands of properties in the Cleveland & Akron areas. We specialize providing a worry-free property management experience. With over 30 full time employees, we offer dedicated service departments for maintenance, city/utility liaison, tenant support and marketing.
Cash and most financing (including DSCR, SDIRA, etc.). Referrals for lenders available upon request.
$1,000 seller credit toward interest rate buy down.