3438 Bosworth Road Cleveland, OH 44111
Apartment
MLS #: 5219798
Courtesy Of EXP Realty
Property InformationDescription
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.
Features
- Age: Over 50 Years Old
- Building Units: 11
- Floors: 3
- Heating System: Forced Air
- Heating System: Natural Gas
- MLSID: 5219798
- Roof Type: Asphalt
- Roof Type: Fiberglass
- Rooms: Basement
MAP & DIRECTIONS
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