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Kelly Hamilton

kelly@realtyforward.com +1(614) 219-9214

$ 269,900

Est. payment -/mo

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Active Under Contract

1615 E 47th ST Cleveland, OH 44103

7 Beds

4 Baths

2,159 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 2,159 sqft

Price per Sqft $125

Subdivision Alexander Macinthosh Allotment

MLS Listing ID 5156339

Bedrooms 7

Full Baths 4

Construction Status Updated/Remodeled

HOA Y/N No

Abv Grd Liv Area 2,159

Year Built 1880

Annual Tax Amount $925

Tax Year 2024

Contingent Appraisal,Inspections

Lot Size 4,229 Sqft

Acres 0.0971

Property Sub-Type Triplex

Property Description

Completely remodeled 3-unit in 44103 has been grossing $3,500/month or $42,000/year! This property EASILY beats the 1% Rule and 10-Cap benchmark. Everything is new, from the roof, siding, vinyl windows, and new concrete parking pads and driveway to all of the mechanicals and interior finishes. There are two 2-bedroom, 1-bath down units, each generating $1K per month. The entire second floor is a 3-bedroom unit with 2 FULL bathrooms and a covered porch. The 3-bedroom unit is currently vacant and listed for rent for $1500, which is what the previous tenant paid. All three kitchens have new cabinets with granite counters and newer stainless steel appliances including fridge/freezer, range, dishwasher and microwave. Each of the three units has Central AC and in unit washers and dryers. Owners pay all utilities and charge tenants a flat monthly fee. Total utility fees were generating $310/month when fully occupied. This will likely increase based on number of occupants who move into Unit 2. LEAD CERTIFICATE valid through April 2027. Termite and structural inspections were recently conducted. Reports are available in the supplements.

Location

State OH

County Cuyahoga

Rooms

Basement Partial, Unfinished

Interior

Heating Forced Air

Cooling Central Air

Fireplace No

Appliance Dryer, Dishwasher, Freezer, Microwave, Range, Refrigerator, Washer

Laundry In Unit

Exterior

Parking Features Driveway, Parking Pad

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Private Pool No

Building

Story 2

Sewer Public Sewer

Water Public

Level or Stories Two

Construction Status Updated/Remodeled

Schools

School District Cleveland Municipal - 1809

Others

Tax ID 104-25-069

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Listed by Sophie Boehlen • Premier Heights Realty LLC • 216-860-0005, sophie@premierheights.com

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