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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.
Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.
Listed By
Agency Name: EXP Realty, LLC.
Agency Contact: chassity@octopodallc.com, 330-604-2363
Shown By
Agent Name: Melissa Birmingham
Agent Phone: (330) 429-8511
Agency Title: Burgan Real Estate