2670 Noble Road, Cleveland Heights, OH, 44121

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$2,200,000
3 Days Online

2670 Noble Road
Cleveland Heights, OH 44121

For Sale|Apartment|Active
0
Beds
0
Full Baths
0
Partial Baths
19,757
SqFt
$111
/SqFt
1938
Built
Subdivision:
Richmond Mayfield
County:
Cuyahoga

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440-879-7260
2670 Noble Road2670 Noble Road2670 Noble Road2670 Noble Road
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Discover this remarkable 41 unit portfolio located in the highly sought-after Cleveland Heights neighborhood. The portfolio is made up of 2 brick apartment buildings in close proximity to one another. Enjoy seamless access to downtown Cleveland, major healthcare centers like CLE Clinic Main Campus and University Hospital Main Campus as well as educational institutions like Case Western Reserve University and Cleveland Institute of Music. The portfolio is situated just steps away from live music venues, vibrant bars, restaurants and shopping destinations. The location makes them ideal rental options for young professionals, undergrad/graduate students, medical professionals, as well as tenants looking for an affordable and convenient living option on Cleveland’s vibrant east side. Currently grossing $27,725 per month in rental income with lots of upside, these assets are primed for a major value-add opportunity! Each unit has separate electric meters, with tenants responsible for their own electric bills. The boiler & water/sewer are the responsibility of the owner. Through light cosmetic updates, potentially renting to some voucher holding tenants, and implementing additional fee structures and water savings plan, an investor is poised to create significant equity. Many units boast beautiful natural hardwood floors, adding charm and appeal. A number of units have seen cosmetic updates during current ownership including, paint, lighting, kitchen and bath updates. In general, the portfolio will benefit from additional, easy cosmetic updating on the remaining majority of units to fetch rental premiums or a buyer can opt to simplify their unit turns and rent to voucher holding tenants as a way to reduce out of pocket costs. In addition, new mechanicals, roof sealing, and other capital expenditures have been taken on by ownership in the last few years.

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Listing Snapshot
Price 
$2,200,000
Days Online 
3 Days
Bedrooms 
N/A
Inside Area (SqFt) 
19,757 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.917 Acres
Year Built 
1938
MLS® Number 
5079346
Status 
Active
Property Tax 
$53,786
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
3 days agoListing first seen online
2 weeks agoListing updated with changes from the MLS®
General Features
Acres 
0.917
Additional Property Use 
Residential
Property Sub Type 
Apartment
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
19757
Water Source 
Public
Interior Features
Heating 
Hot WaterSteam
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Community Features
Financing Terms Available 
CashConventional
School District 
Cleveland Hts-Univer - 1810
Township 
Cleveland Heights
Schools
School District
Cleveland Hts-Univer - 1810
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of Tal Tamir of Russell Real Estate Services



The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of YES-MLS. Real estate listings held by brokerage firms other than are marked with the Internet Data Exchange logo and detailed information about them includes the name of the listing broker(s). The photos may be altered, edited, enhanced or virtually staged. Information Deemed Reliable But Not Guaranteed. Copyright 2024 - Multiple Listing Service, Inc. – All Rights Reserved.

Neighborhood & Commute
Source: Walkscore
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