5714 Bridge Avenue
Property Description
Turnkey leased two-family in Detroit Shoreway, a half mile from Gordon Square and minutes from Ohio City, Edgewater and downtown. Both units are under written lease with contracted increases running into 2029, so the income is in place and documented on day one. $2,850 monthly gross today, stepping to $3,150 by August 2028 under signed leases. That is $34,200 rising to $37,800 with no renegotiation required. The lower unit is held by a corporate tenant on a three-year term through August 2029 with written short-term rental authorization, and that lease assigns lawn care, landscaping and snow removal to the tenant. The unit is the showpiece: white shaker kitchen with stainless suite, stone counters and mosaic backsplash, open-concept living and dining, a spacious primary and secondary bedroom, separate game room/bonus room with closet, in-unit laundry, and a renovated bath in marble-look tile with lighted vanity. The upper unit is separately accessed with its own updated kitchen, bath, luxury vinyl tile, in-unit laundry, and opens off the bedroom to a private rooftop area with deck potential. 2026 brought a complete tear-off roof with architectural shingles, all new siding over Tyvek house wrap, new gutters and downspouts, new windows on the east elevation, and a new air conditioning condenser. The big-ticket work is done. 1,799 finished square feet above grade, full basement, forced air gas heat with central air, separately metered electric, and off-street parking at the rear. Both units are registered as rentals with the City of Cleveland and a certified lead risk assessment is already underway. Executed leases, tenant payment history, actual utility billing and a full investor analysis with size-matched rent comparables and relevant size-matched sales are all attached in the supplements. Attractive appreciation upside and steady income make this a terrific investment to add to any portfolio.
Broker Details
The Agency Cleveland Northcoast (170) 250-5065
MLS ID: 2019007055 State License Number: 2019007055
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $305,000 |
| Year Built: | 1920 |
| Lot Size: | 1,799.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 2 |
ID: 3yd-NEOHREXOH-5243370
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