5311 Magnet Avenue Cleveland, OH $ 219,900
5311 Magnet Avenue
$ 219,900
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5311 Magnet Avenue

Cleveland, OH, 44127
$ 219,900
Baths0.0

Monthly Estimate*

$ 1,536

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Studio

Commercial Property for sale in Cleveland, OH

for $219,900. This building was built in 1959 on a lot size of 0.166.

Discover a unique investment opportunity with this cash-flowing all-brick, four-unit apartment building alongside a profitable carwash business. Currently generating $3,050/month in total income, it has a proforma projection of nearly $4,000/month. It was also just recently awarded a Lead Safe Certification by the city of Cleveland – one less thing for an investor to think about! The units boast original hardwood floors and will need some additional cosmetic updating to achieve projected rents. Seize this unique opportunity to purchase a business AND small multifamily all in one transaction and continue diversifying and growing your Cleveland portfolio!

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Commercial Active

Price

$ 219,900

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 1,982

Style

Lot Size

0.166

Year Built

1959

Town/City

Cleveland

County/Region

Cuyahoga

MLS | Web ID

5027595

Features
General
Sewer PublicSewer
Heating HotWater Steam
Cooling None
Possession DeliveryOfDeed
Roof Flat
Year Built 1959
Stories 3
Township Cleveland
Levels ThreeOrMore
Property SubType Other
Tax Year 2023
Current Use MixedUse
Business Type CarWash
County Cuyahoga
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Subdivision Name Caleb & Mary D Morgans Sub
Garage Y/N N
Status Active
Directions East of Broadway Ave
City Cleveland
Buyer Agent Compensation 3/2
View Y/N N
Senior Community Y/N N
High School District Cleveland Municipal - 1809
Total Units 4
Waterfront Y/N N
Carport Y/N N
Street Name Magnet
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 1982.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 2
Building Area Units SquareFeet
Standard Status Active
Middle/Junior School District Cleveland Municipal - 1809
Elementary School District Cleveland Municipal - 1809
Year Built Source PublicRecords
Property Sub Type Additional Other
Buyer Agent Compensation Type Item1
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Interior
Basement Unfinished
Total Stories 2
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Street Suffix Avenue
Electric On Property Y/N N
Main Level Bathrooms 0
Total Baths 0
Living Area Units SquareFeet
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Exterior
Water Source Public
Lot Size Area 0.166
Number of Buildings 2
Spa N
Building Area Total 7416.0
Lot Size Acres 0.166
Lot Size Units Acres
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 5311
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* Excluded Features
List By
Tal Tamir

Listing Agent

Russell Real Estate Services

Broker

tal@premierclevelandinvesting.com

Email

Affordability Calculator

$1,701
Per Month
90%
10%
0%
Monthly Principal & Interest
$1,536
Monthly Property Taxes
$165
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
4457612 Elementary School
4457721 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/10/2024$219,900 Listed Price

Map


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5311 Magnet Avenue, Cleveland, OH, 44127 is a Commercial Property for sale at $219,900 with a lot size of 0.166. 5311 Magnet Avenue is a studio with 0.0 baths and was built in 1959. The property's zip code is 44127 which is in Cleveland, OH