4518 Mcgregor Avenue
Property Description
Welcome to this well-kept four-unit multifamily property in Newburgh Heights, featuring separate living spaces and multiple balconies. Significant renovations completed in 2023 include new flooring throughout, updated kitchens with new cabinetry, providing refreshed spaces for meal preparation, renovated bathrooms, fresh paint throughout, and new windows. Additional improvements include a new asphalt roof, four new furnaces, four new hot water tanks, and updated electrical. The front upper unit (Unit 3) offers two bedrooms, a living room, a dining room, and a full bath, while the front balcony provides additional outdoor space. The rear upper unit (Unit 4) offers a bedroom, a full bath, kitchen, living room, and a small bonus room that can accommodate a variety of uses. The unit also features access to a rear balcony, while the unit below includes a small back porch. The partial basement includes multiple laundry areas, while separate utility meters for each unit offer added convenience for tenants in tracking and managing utility expenses. Historically generating approximately $3,800 to $4,000 in monthly rental income across all four units, the property is being offered vacant, allowing the next owner to establish new tenancies. With substantial improvements and a history of rental income, this multifamily property presents an opportunity for investors seeking a well-maintained investment property to their portfolio.
Broker Details
Greater Cleveland (216) 839-5500
MLS ID: 237938 State License Number: 237938
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $400,000 |
| Year Built: | 1918 |
| Lot Size: | 3,436.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 4 |
ID: 3yd-NEOHREXOH-5259201
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout