10412 Madison Avenue
Cleveland, OH 44102

Property Description

Incredible opportunity to purchase (5) units on Cleveland's west side! Located conveniently on Madison Avenue, this property has massive income potential for the savvy investor. There are (4) apartments and one very large, downstairs space (currently used as a room rental) that used to be a bar. The apartments are comprised of (2) two bedroom and (2) one bedroom apartments. The downstairs former bar space has a number of rooms with a common kitchen and a large open living room. A buyer can use the bottom floor space to make a couple separate apartments, optimize the current room rental situation, or convert back to a commercial space (please check and verify zoning). In addition, this sale includes the parcel next door (00127010) which is currently used as a parking lot and also generates additional income for the owner as a local business rents this space for $250 / month to store their trucks. Proforma, this property can easily generate over $4,600 per month in income! All tenants are currently month to month. Tenants are responsible for their own electricity and gas for the apartments, while the owner pays the water/sewer, and electric and gas for the bottom floor space.