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$275,000

Est. payment - /mo

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8 Beds

2 Baths

6,600 SqFt

New

7511 Jeffries AVE Garfield Heights, OH 44105

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Luke Loughery

[email protected] +1(304) 312-8583

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Key Details

Property Type Single Family Home, Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 6,600 sqft

Price per Sqft $41

Subdivision Orchard Grove Allotment/G M Hick

MLS Listing ID 5122248

Bedrooms 8

Full Baths 2

HOA Y/N No

Abv Grd Liv Area 6,600

Year Built 1949

Annual Tax Amount $5,191

Tax Year 2023

Lot Size 0.850 Acres

Acres 0.85

Property Sub-Type Duplex

Property Description

Discover this exceptional, income-generating property that offers both stability potential for growth. This meticulously updated mixed-use asset features two fully renovated residential units (side-by-side duplex) and three commercial garage spaces currently leased to a long-term tenant—all generating a total of $3,750 in monthly rent (18% cash on cash)! Each residential unit has undergone a comprehensive renovation, including: Brand new flooring + fresh paint, Updated light fixtures and modern hardware, Refinished ceilings + complete kitchen + bath remodels, New furnaces + hot water tanks, Updated electrical panels, newer sump pump, Numerous newer windows and Newer Roof! Exterior highlights include durable vinyl siding, private entrances, + a partially fenced backyard. The property also boasts a large parking lot,+ with two dedicated spaces per residential unit, and additional open land at the rear offering added privacy—an ideal feature on a quiet dead-end street. Residential Unit B includes a refreshed basement with generous storage + is currently rented on a 1-year lease at $1,250/month starting May 15. Residential Unit A is rent-ready and currently vacant, offering the flexibility to place your own tenant. (A prospective tenant is already identified and ready to pay $1,000/mo. if the buyer chooses.) The commercial component consists of 3 garage bays (used as auto/mechanic shop) leased together at $1,500/month on a new five-year lease beginning June 1 with 3% annual increases. The garage also includes a private office, + the tenant—who has been occupying the space for over six years—has expressed interest in staying on as PM for just $200/month, representing approximately 5% of gross income. Each residential unit is separately metered, + property will be delivered Point-of-Sale Compliant! Zoned commercial. With proximity to parks, major highways, healthcare facilities, retail, dining, + recreation, this is a highly desirable investment in a prime location!

Location

State OH

County Cuyahoga

Rooms

Basement Unfinished

Interior

Heating Gas

Cooling None

Fireplace No

Exterior

Parking Features Parking Lot

Garage Spaces 3.0

Garage Description 3.0

Fence Chain Link, Partial

Water Access Desc Public

Roof Type Asphalt,Fiberglass

Private Pool No

Building

Sewer Public Sewer

Water Public

Level or Stories One

Schools

School District Garfield Heights Csd - 1815

Others

Tax ID 546-38-042

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Leilani M Bowersock • Coldwell Banker Schmidt Realty • [email protected] 440-570-9514

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Luke Loughery

Agent | License ID: WVS240303156

+1(304) 312-8583

7511 Jeffries AVE Garfield Heights, OH 44105

Luke Loughery

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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7511 Jeffries AVE