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Fairport Harbor,OH 44077
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Grandon
MLS Listing ID 5119854
Year Built 1910
Annual Tax Amount $7,036
Tax Year 2024
Lot Size 8,459 Sqft
Property Sub-Type Apartment
Property Description
Calling all investors: this five-unit building is the cash cow your portfolio has been waiting for. Each unit averages a monthly income of $976 for a total yearly gross income of $58,560. Conveniently nestled in the cute town of Fairport Harbor just down the road from beautiful Lake Erie Beaches, shopping, and family-owned restaurants. All apartments have separate electric panels. Currently, the units are rented utilizing the extended housing program or S-8. With a deficit of housing available for these programs, rates have increased dramatically. The 11.6% Cap Rate on this investment makes it a must have. Improvements include: new asphalt driveway, new back deck, updated hallway and steps, apt 4 completely renovated recently. Call today to schedule your showing.
Location
State OH
County Lake
Interior
Heating Baseboard
Building
Sewer Public Sewer
Water Public
Schools
School District Fairport Harbor Evsd - 4301
Others
Special Listing Condition Standard