18911 Bella Drive, Cleveland, OH 44119
- $1,025,000
- List Price
- $1,025,000
- Status
- ACTIVE
- MLS#
- 5209202
- Year Built
- 1962
- Region
- Cleveland
- Township
- Cleveland
- Subdivision / Building
- Kazens Bella Drive Resub 01
Property Description
18911 Bella Drive presents a mostly renovated 12-unit multifamily asset with significant capital improvements already completed. Ownership has renovated 8 of 12 units over the past two years, achieving strong rent growth while maintaining stable occupancy. Unit mix is SIX 2bed/1bath ave rent $1000/month; SIX 1bed/1bath ave $800/month The property has undergone full lead abatement and holds a 20-year lead-free certification, significantly reducing regulatory risk. Additional recent capital improvements include a new roof, updated entry doors, renovated laundry rooms, and upgraded mechanical systems. This offering represents a rare opportunity to acquire a largely de-risked, near-stabilized asset with in-place income and remaining upside by increasing rents to market, maximizing an 8% CAP
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Additional Information
- Taxes
- $15,987
- Acres
- 0.36
- Sewer
- Public Sewer
- Water
- Public
- Heating
- Forced Air
- School District
- Cleveland Municipal - 1809
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Listing Courtesy of: Geoffrey DelGrosso, geoffdelgrosso@gmail.com With Keller Williams Greater Cleveland Northeast
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