12627 Iowa AVE new Save Request In-Person Tour Request Virtual Tour
Cleveland,OH 44108
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,160 sqft
Price per Sqft $59
Subdivision L M Southerns Forest Park Sub
MLS Listing ID 5136141
Style Colonial
Bedrooms 3
Full Baths 1
HOA Y/N No
Abv Grd Liv Area 1,160
Year Built 1921
Annual Tax Amount $721
Tax Year 2024
Lot Size 3,301 Sqft
Acres 0.0758
Property Sub-Type Single Family Residence
Property Description
This single-family colonial-style investment property features 3 bedrooms and 1 full bathroom. It is located in one of the city's most affordable areas, which has seen recent investor activity driving gradual improvements! There is a substantial demand for rentals in this region, making long-term ownership a popular choice! Current trends indicate stable tenancy, and the property offers immediate income from a long-term tenant paying $800 per month on a month-to-month lease, with potential for a rent increase! Situated in a low-cost, high-yield market, this property presents a solid opportunity for investors seeking appreciation through targeted upgrades. While it requires a complete cosmetic rehab, this can be deferred to current tenancy. Additionally, the interior and mechanicals will require deferred maintenance and updates. The property has a strong foundation, steady income, and significant potential for increased market rent. This investment is being sold as-is with a tenant in place, making it an excellent opportunity to build equity and enhance cash flow in a rapidly evolving submarket! Don't miss out on this solid opportunity! Reach out to learn more!
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Forced Air
Cooling None
Fireplaces Number 1
Fireplaces Type Living Room
Fireplace Yes
Laundry In Basement
Exterior
Parking Features Driveway,Off Street,Paved
Water Access Desc Public
Roof Type Asphalt,Shingle
Porch Covered,Porch
Private Pool No
Building
Sewer Public Sewer
Water Public
Architectural Style Colonial
Level or Stories Two
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 111-16-154
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional