The Holton-Wise Property Group

SELLER FINANCED APARTMENT BUILDING FOR SALE

2073 Broadview/Roanoke
Cleveland. Ohio, 44109

$259,900

You asked for it & it's finally here! A renovated apartment building with SELLER FINANCING!!! Do not miss out on this very RARE opportunity.

The seller purchased this almost entirely vacant and highly distressed asset in cash in 2016 and has had Holton-Wise handling the management and renovations since. Now that the project is almost entirely complete and the building is running like a well oiled machine it is time for the seller to recoup his cash and collect the interest on the mortgage he is holding. What this means for you is the opportunity to step in and collect passive income, right after all the dirty work has been completed.
HIGHLIGHTS:
  • Mortgage Terms
  • 50% down payment
  • Amortized over 20 years with a 5 year balloon
  • 6% interest
  • Rent Roll
  • Unit 1 3 beds /1 bath. (Over 1k sq ft) Renovation under way. Market rent $750/mo
  • Unit 2 1 bed / 1 bath. Currently leased $535/mo
  • Unit 3 1 bed / 1 bath. Currently leased $495/mo
  • Unit 4 3 beds / 1 bath. Currently leased $725/mo
  • Unit 5 2 beds / 1 bath. Currently leased $625/mo
  • Unit 6 Retail. Currently leased by a Barbershop for 5 years. The business owner is making
  • renovations to the unit and the rent is tiered. The rent will top out at $700/mo
  • Total Gross Rent $3,830/mo
  • Highlights
  • Each unit is separately metered for gas and electric (Tenants pay)
  • Over $100,000 worth of work performed by Holton-Wise since 2016. Including a brand new $50,000 roof in 2017
  • Current property taxes $4,377/year
  • Owner pays water & sewer
  • As this was a complete renovation there are no historical financials
EMAIL FOR MORE INFORMATIONjames@holtonwise.com
James Wise
(440)212-2195