4755 Pearl Rd, Cleveland OH 44109 Photo 1 4755 Pearl Rd, Cleveland OH 44109 Photo 2 4755 Pearl Rd, Cleveland OH 44109 Photo 3 4755 Pearl Rd, Cleveland OH 44109 Photo 4 4755 Pearl Rd, Cleveland OH 44109 Photo 5 4755 Pearl Rd, Cleveland OH 44109 Photo 6 4755 Pearl Rd, Cleveland OH 44109 Photo 7 4755 Pearl Rd, Cleveland OH 44109 Photo 8 4755 Pearl Rd, Cleveland OH 44109 Photo 9 4755 Pearl Rd, Cleveland OH 44109 Photo 10 4755 Pearl Rd, Cleveland OH 44109 Photo 11 4755 Pearl Rd, Cleveland OH 44109 Photo 12 4755 Pearl Rd, Cleveland OH 44109 Photo 13 4755 Pearl Rd, Cleveland OH 44109 Photo 14 4755 Pearl Rd, Cleveland OH 44109 Photo 15 4755 Pearl Rd, Cleveland OH 44109 Photo 16 4755 Pearl Rd, Cleveland OH 44109 Photo 17 4755 Pearl Rd, Cleveland OH 44109 Photo 18 4755 Pearl Rd, Cleveland OH 44109 Photo 19 4755 Pearl Rd, Cleveland OH 44109 Photo 20 4755 Pearl Rd, Cleveland OH 44109 Photo 21

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4755 Pearl Rd - One of a kind opportunity. Rare mixed use building in the heart of Old Brooklyn on Cleveland's west side. Right on the bus line. Over 23,000 sq ft. Currently operating as a motel and apartment building. The building has 32 motel rooms. 9 One bedroom apartments. 1 Two bed/two bath apartment that sits above a two car garage and has a bonus room that could be used as a third bedroom. 1 two car garage. 1 party room. 1 rec room & 1 commercial laundry room which is open to the residents as well as the public. Other uses include converting the 32 motel suites into studio apartments. Listing agent has spoken to Cleveland council president. The city would be very happy if the building were to be redeveloped into an apartment complex. The cost for this would be roughly $65,000.00. Contact listing agent for full offering memorandum. Cap rate 14.73. Cash on cash return 23.3% OWNER FINANCING AVAILABLE! Owner willing to finance for 15 years with 30% down. (25 year amortized, 7% interest, 1st PAYMENT DEFERRED for 6 MONTHS

Listing information

  • MLS® ID: 3782602
  • Status: Active
  • New Construction: No
  • Estimated Annual Taxes: $17,316
  • Style: Commercial
  • Stories: 0
  • Foreclosure: No
  • County: Cuyahoga
  • Year Built: 1956
  • Parking Type Description: None 0 cars
  • Lot Area: 0.52

Features

Apartments Type Apartments/Other
Assessments Y/N No
Available Financing Assumable Mortgage, Cash, Conventional, Exchange/Trade, Land Contract, Lease Option, Mortgage by Seller
Heating Type Forced Air
Homestead Exemption Y/N No
Other Lot Size Depth - 429, Lot Size Frontage - 60, Num Of Apartments Total - 43
Possession Time of Transfer
Property Subtype Apartment
Water Sewer Public Sewer, Public Water
Listing Courtesy of The Holton-Wise Property Group