Pat Fugate-DeVille
REALTOR®
MLS#5219798
STATUSActive
PROPERTY TYPECommercial - Business
SCHOOLCleveland Municipal - 1809
Property Description
3438 Bosworth Road is an 11-unit brick multifamily building located in the West Boulevard / Kamms Corner neighborhood of Cleveland, Ohio. Built in 1925 and spanning 10,450 SF across three stories, the property is offered for sale at $675,000 ($61,364/unit). The building features a unit mix of 3 two-bedroom/one-bath and 8 one-bedroom/one-bath apartments, currently 73% occupied (8 of 11 units). Three recently renovated vacancies are move-in ready with no additional capital required. One unit is leased to a Section 8 (CMHA) tenant at $1,034/month ? above market rate ? with utilities included in the CMHA payment. The seller has completed a comprehensive capital improvement program estimated at $140,000$250,000+, covering a full roof replacement, complete plumbing stack overhaul, all-new water heaters building-wide, partial furnace replacement (6 of 11 units), and common area restoration. The property carries current Lead Certification. On-site coin laundry via CSC ServiceWorks. At stabilization, the asset projects NOI of $68,005 (low blended) to $105,987 (peak/CMHA), implying cap rates of 10.07% to 15.70% at asking price.
Property Features
Property Type: Commercial - Business
Basement: Unfinished
Basement: Yes
Cooling: None
Heating: Forced Air, Gas
Lot Size: 0.16 Acres
Roof Type: Asphalt, Fiberglass
Stories: 3.0
Taxes: $17,664 / year
Year Built: 1925
Feature Descriptions
Days on Site: 1
Parcel#: 018-13-118
Parking: None, On Street
Sewer: Public Sewer
Units: 11
Water: Public
Local Schools
School District: Cleveland Municipal - 1809
Listed By / Shown By
Listed By
Agency Name: EXP Realty, LLC.
Agency Contact: chassity@octopodallc.com, 330-604-2363
Shown By
Agent Name: Pat Fugate-DeVille
Agent Phone: (330) 495-4811
Agency Title: DeHOFF REALTORS
Pat Fugate-DeVille
Office: (330) 499-8153 ext. 128
Cell: (330) 495-4811
Fax: (330) 499-7127
For N. Canton Homes: (330) 495-4811
For Portage Lake Properties: (330) 644-0628
For Akron Properties: (330) 644-0628
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3438 Bosworth Road | MLS# 5219798
This commercial property located at 3438 Bosworth Road, Cleveland, OH 44111 is currently listed for sale with an asking price of $675,000. Bosworth Road is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on pfugate.dehoff.com today.