18707 Shawnee Avenue, Cleveland, OH 44119

• 3 beds |
• 2 baths |
• 1,004 sqft

Property Description

ATTENTION INVESTORS: TURNKEY SECTION 8 CASH COW — $1,635/MO WITH MORE UPSIDE! — CLEVELAND TAXES, HIGH EUCLID RENTS, EXCELLENT DSCR This property is a major cashflow performer, currently generating $1,635/mo — $1,494 fully covered by CMHA Section 8, plus an additional $141/mo in garage rent paid directly by the tenant with an increase in sight! Already submitted. Government-backed income, 100% split (CMHA pays 100%), with no tenant portion risk. Property is fully stabilized with long-term happy tenant, and producing a massive DSCR even at today’s interest rates. Massive ratio! Located just blocks from Euclid, it benefits from higher Euclid-level rents while paying lower Cleveland taxes without Euclid POS — maximizing net yield. Property is on a clean, quiet, high-rental-demand street where rentals move quickly and stay full, near banks, restaurants, shops and grocery store. Walk to any of them. Rent it for the cashflow, or buy it as an owner. Many houses on this street are owner occupied! Turnkey, perfect for investors looking to start with no vacancy down time. Big rehab includes: restored hardwood floors, new kitchen flooring, fresh paint, brand new appliances, sink and hardware, and overall refresh, along with a nice fenced-in backyard. Dry basement offers value-add potential to add 1–2 bedrooms and increase rent significantly. likely increase in rent of $500/mo with two additional basement bedrooms. PRIME AREA! LEAD BASE PAINT TESTING COMPLETE AND PASSED! Fully rehabbed, rent-stabilized, excellent tenant, well maintained, low-maintenance asset, high-demand. Strong lease is transferrable and very owner-protective. Excellent DSCR ratio and investment! PART OF A LARGER STABILIZED SECTION 8 PORTFOLIO — INQUIRE FOR INFORMATION ON OTHER LISTINGS. Do not disturb tenants. 48-hour notice typically required for showings. Showings after accepted offer. Artistic marketing renders and photos are transferable to buyer for future use in listings."

Listing Status:

Active

Listing Office:

Team Results Realty : 614-382-2124

Listing Agent:

Scott A Marvin : (614) 382-2124

MLS ID:

5134354

Interior

• Appliances: RangeRefrigerator
• Basement: Full
• A/C: None
• Heating: Forced AirGas
• Fireplace: Wood BurningFireplaceFireplaces: 1

Exterior

• Style: Split Level
• Parking: DetachedGarage

Construction

• Roofing: Shingle
• General: BrickVinyl Siding2Block

Location

• Originating MLS: NOWDD
• School District: Cleveland Municipal - 1809
• County: Cuyahoga

Lot

• Zoning: 17 9 WP 100 FT W OF E 188 ST114-19-030

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: NOWDD

This listing courtesy of Scott A Marvin, Team Results Realty