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.
Listed By
Agency Name: EXP Realty, LLC.
Agency Contact: chassity@octopodallc.com, 330-604-2363
Shown By
Agent Name: Deanna Ruth
Agent Phone: (330) 936-1350
Agency Title: Tanner Real Estate
3438 Bosworth Road | MLS# 5219798
This commercial property located at 3438 Bosworth Road, Cleveland, OH 44111 is currently listed for sale with an asking price of $675,000. Bosworth Road is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on druth.tannerrealestate.net today.