12118 12120 Madison Ave, Lakewood OH 44107 Photo 1 12118 12120 Madison Ave, Lakewood OH 44107 Photo 2 12118 12120 Madison Ave, Lakewood OH 44107 Photo 3 12118 12120 Madison Ave, Lakewood OH 44107 Photo 4 12118 12120 Madison Ave, Lakewood OH 44107 Photo 5 12118 12120 Madison Ave, Lakewood OH 44107 Photo 6

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12118 12120 Madison Ave - Great Investment Property! Two store fronts rented. Furniture and Beverage Store. Furniture Store has own furnace and air and garage. He is m-m. Beverage store has own heat and air and has 5 year lease. Apartments are 2-two bedrooms at $500.00 each. Some new windows and more to be replaced. 1-one bedroom apartment. All tenants are m-m. All units have appliances that stay. 2 new stoves. Boiler system serviced 4 yrs ago and all radiators cleaned and serviced. Separate garage in back rented 15 years, same tenant, $575 a month. All brick solid building. Income is $36,600, expenses including taxes $13,780, means net income of $22,820 and the rents are lower than area because the tenants are very reliable. 24 hr notice, but not difficult to show.

Listing information

  • MLS® ID: 3481755
  • Stories: 0
  • Foreclosure: No
  • County: Cuyahoga
  • Style: Commercial
  • Parking Type Description: On Site 0 cars
  • Lot Area: 0.16
  • Status: Sold on 4/20/2015
  • New Construction: No
  • Estimated Annual Taxes: $7,300

Features

Apartments Type Apartments/Retail
Basement Detail Unfinished
Cooling Type Central Air
Heating Fuel Gas
Heating Type Radiators
Location Downtown
Other Assessments YN - 0, Elevator YN - 0, Heat - 4800, Homestead Exemption YN - 0, Lot Size Depth - 137, Lot Size Frontage - 51, Num Of Apartments Total - 3, Residential SF - 8898, Retail Sq Ft - 11300, Sewer Water - 1680
Owner Pays Heating, Water
Possession Time of Transfer
Property Subtype Apartment
Roof Asphalt/Fiberglass
Tenant Pays Cable/Electric Link, Electric
Water Sewer Public Sewer, Public Water
Listing Courtesy of Russell Real Estate Services