Investment Opportunity! Brick 5-Unit Commercial Storefront Building With Apartments

Auction in 560 E 200th St, Euclid Ohio, United States

16 Thursday
May 16th, 2019 12:00 PM
Kiko Auctions
Phone: 330-453-9187

Investment Opportunity! Brick 5-Unit Commercial Storefront Building With Apartments

Auction in 560 E 200th St, Euclid Ohio, United States

Thursday at - 16th May , 2019

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Income-Producing Property Investment Opportunity! Brick 5-Unit Commercial Storefront Building With Apartments Cuyahoga County – Euclid City
Absolute auction, sells to the highest bidders on location:

Real estate features 3,990 sq. ft. two-story brick building built in 1928. Main level has two large open store fronts, one having barber shop as tenant. Attached one-bedroom apartment efficiency at the rear. Basement for storage and half bath. Second level has two apartments with two bedrooms, full bath, kitchen and living room. Concrete driveway with brick 2.5-car garage with owner storage area and three parking spaces out front. All units have separate utilities, furnaces and hot water heaters. Updates include 2018 rolled rubber roof on main building and some replacement windows. Tenants are responsible for utilities. 40’ x 116’ lot.

RENTS PER MONTH:
Barber shop: $475
Store, currently vacant: $500
Apartment #1: $450
Apartment #2: $500
Apartment #3: $275
Potential monthly income: $2,200
Yearly real estate taxes: $3,952
Yearly insurance: $1,000
Water & sewer: $1,200
Potential net profit: $20,248

NOTE: Open auction day starting at 11:00 AM. Do not disturb the tenants. Long-term owner of 20 years. Rents have never been raised since that time, potential increases in rents in the area are significantly low.


Real Estate Terms: 10% down auction day, balance due at closing. A 10% buyer’s premium will be added to the highest bid to establish the purchase price, which goes to the seller. Any desired inspections must be made prior to bidding. All information contained herein was derived from sources believed to be correct. Information is believed to be accurate but not guaranteed.