This is a unique opportunity to acquire a turnkey apartment building with eight one-bedroom, one-bathroom units in one of the nation’s most sought-after rental markets. The property will be completely rented out by the time of transfer so that investors can benefit from a reliable passive income stream. The market rent for a one-bedroom unit is $795/month, while CMHA rates are $1095. Located in West Cleveland, The Bricks Apartments offers convenient access to highways, the international airport, and key employment hubs, ensuring a steady stream of potential tenants.
This low-maintenance brick building includes separate gas and electric meters, individual central forced air furnaces, and off-street parking for each unit. The central lobby provides access to the common hallway and stairwell, leading to the eight one-bedroom, one-bath apartments. Additionally, there is an on-site laundry facility with a hassle-free coin-operated machine lease. Units have been refreshed with a custom paint scheme, updated bathrooms and kitchens, new appliances, a new hot water tank, and new LTV flooring.
