Property
Beds
4
Full Baths
2
1/2 Baths
None
Year Built
1915
Sq.Footage
N/A
Strong turnkey investment opportunity at **15332 Welton Drive in East Cleveland**. This duplex features **two 2-bedroom, 1-bath units and is fully occupied with Section 8 tenants**, providing immediate and consistent cash flow from day one. Current in-place rent totals **$2,300 per month**, which is already **$140 per month above the current $2,160 HUD Fair Market Rent** for the property. The property is positioned as a stabilized, income-producing asset with an estimated **10.00% cap rate**. Located in East Cleveland's 44112 ZIP code near Cleveland Heights, the property offers convenient access to major employment centers, transportation routes, shopping, and other Greater Cleveland amenities. This property is also available as part of an attractive **four-duplex, eight-unit Cleveland investment portfolio offered at $702,000**, giving buyers the opportunity to acquire a larger collection of income-producing and rent-ready assets within one transaction. The portfolio includes **15332 Welton Dr, 3611 E 116th St, 9223 Adams Ave, and 10906 Nelson Ave**, with more than **$120,000 in capital improvements** completed across the portfolio, including a combination of roofs, furnaces, hot water tanks, Lead Safe certifications, plumbing and sewer work, porches, gutters, windows, cabinets, appliances, and interior improvements. For investors looking to expand their Cleveland rental holdings, Welton offers an attractive combination of existing Section 8 occupancy, above-FMR rental income, and immediate cash flow, while the full portfolio provides additional scale and diversification across eight units. **No showings without an accepted offer.**
Features & Amenities
Interior
-
Total Bedrooms
4
-
Bathrooms
2
-
Basement YN
YES
-
Cooling YN
NO
-
Cooling
None
-
Heating YN
YES
-
Heating
Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
Yes
-
Garage spaces
1
-
Construction Materials
Wood Siding
-
Parking
Garage
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.1045
-
Property Type
Residential Income
-
Property Sub Type
Duplex
Price
-
Sales Price
$175,500
-
Tax Amount
$939
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
East Cleveland CSD - 1812
-
Middle School
East Cleveland CSD - 1812
-
High School
East Cleveland CSD - 1812
Property Features
-
Stories
2
-
Foundation Details
Slab
-
Sewer
Public Sewer
-
Water Source
Public
Schedule a Showing
Showing scheduled successfully.
Mortgage calculator
Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.
Your payment
Principal and Interest:
$
Property taxes:
$
HOA fees:
$
Total loan payment:
$
Total interest amount:
$
Location
County
Cuyahoga
Elementary School
East Cleveland CSD - 1812
Middle School
East Cleveland CSD - 1812
High School
East Cleveland CSD - 1812
Listing Courtesy of Kim Lewis, Home Equity Realty Group
RealHub Information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. RealHub website owner shall not be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Agent / RealtorĀ®
Carla Ponikvar
Call Carla today to schedule a private showing.
* Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request.Ā© 2024 FMLS.