2375 Sanitarium Road
Property Description
Fully occupied triplex with long-term tenants in place, currently generating $3,060 per month in scheduled rent. Current rents are $1,080, $990 and $990, all subsidized! Tenants pay electric; owner is responsible for gas, water, sewer and trash due to the building's central boiler system. Interior photos are from a prior 2021 listing and are provided for general reference only. Current condition may differ due to continued tenant occupancy. The units reflect older finishes and buyers should anticipate updating and turnover work as vacancies occur. The roof was replaced in 2006, the boiler in 2007, and the windows and siding in 2010. Buyer should independently verify ages and condition of all major components. Convenient location near local schools and Lakemore Recreation Park. This is an opportunity to acquire three occupied units at an attractive per-unit basis with future value-add potential. A neighboring duplex with comparable unit square footage recently sold for $111,000 per unit, while 2375 Sanitarium is being offered at approximately $76,667 per unit. Existing leases and trailing operating statements are available for review. Please do not disturb tenants. End buyers only.
Broker Details
KW Living (440) 318-1620
MLS ID: 2016003542 State License Number: 2016003542
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $230,000 |
| Year Built: | 1969 |
| Lot Size: | 2,292.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 3 |
ID: 3yd-NEOHREXOH-5249146
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