3438 Bosworth Road,Cleveland, OH 44111
Cleveland, OH 44111
Description
3438 Bosworth Road is an 11-unit brick multifamily building located in the West Boulevard / Kamms Corner neighborhood of Cleveland, Ohio. Built in 1925 and spanning 10,450 SF across three stories, the property is offered for sale at $675,000 ($61,364/unit). The building features a unit mix of 3 two-bedroom/one-bath and 8 one-bedroom/one-bath apartments, currently 73% occupied (8 of 11 units). Three recently renovated vacancies are move-in ready with no additional capital required. One unit is leased to a Section 8 (CMHA) tenant at $1,034/month above market rate with utilities included in the CMHA payment. The seller has completed a comprehensive capital improvement program estimated at $140,000-$250,000+, covering a full roof replacement, complete plumbing stack overhaul, all-new water heaters building-wide, partial furnace replacement (6 of 11 units), and common area restoration. The property carries current Lead Certification. On-site coin laundry via CSC ServiceWorks. At stabilization, the asset projects NOI of $68,005 (low blended) to $105,987 (peak/CMHA), implying cap rates of 10.07% to 15.70% at asking price.
Details
| MLS # | 5219798 |
|---|---|
| Listing Type | For Sale |
| Style | Apartment |
| Sub-Type | Resale |
| Status | Contingent |
| Year | 1925 |
| Days On Site | 71 |
| Listing Provided By | EXP Realty, LLC. | Chassity Miller |
Features
| SQ Feet | 9,783 |
|---|---|
| Basement | Y |
| Story(s) | 3 |
| Units | 11 |
| Building(s) | 1 |
| Zoning | Multi-Family |
| Acreage | 0.16 |
Parking
| Parking Features | None, On Street |
|---|
Taxes
| Tax Annual Amount | 17664.3 |
|---|
Area Information
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Cleveland |
| Zip Code | 44111 |
| Listing VS Median (in 44111) | |
Price: $675,000 low | high Med: $179,000 sqft: 9,783 low | high Med: 1,062 $ / sqft: $69 low | high Med: $170 On site: 71 low | high Med: 20.5 | |
Market Activity 44111
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Learn More About This Property
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Cleveland |
| Zip Code | 44111 |
| Listing VS Median (in 44111) | |
Price: $675,000 low | high Med: $179,000 sqft: 9,783 low | high Med: 1,062 $ / sqft: $69 low | high Med: $170 On site: 71 low | high Med: 20.5 | |