$119,900
FOR SALE1848 Stanwood Road
East Cleveland, Oh, 44112
MLS #5210226
Subdivision: Grasmere Allotment
Building: -
4 Beds
1/- Baths
1894 sqft
$ 63.31 /sqft
Presenting a cash-flowing investment opportunitya 1,894 sq. ft. Colonial-era (1899) home with a long-term, month-to-month Section 8 tenant already in place. This 4-bedroom, 1.5-bath property generates 1,450/mo. in gross rent. CMHA(Section8) currently covers 1,190/mo. of that amount, with the tenant responsible for the remaining amount. While not fully subsidized, the majority of rent is guaranteed by the housing authority, reducing collection risk compared to traditional market-rate tenants. The asset features a durable slate roof, central A/C, replacement vinyl windows throughout most of the home, and a full unfinished basement for storage or future value-add. The property has undergone significant electrical, plumbing, bathroom, kitchen, HVAC, and interior/exterior repairs. The tenant wishes to remain, and is on a month-to-month lease, giving you flexibility. With a detached 2-car garage and solid bones.
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Listing Courtesy of: Red 1 Realty LLC
