Extremely low-basis multifamily opportunity for an investor looking for a substantial rehab project with strong rental income potential after stabilization.
This property is a triplex and requires a significant renovation. The seller has received an estimated $70K–$80K full-rehab quote, giving the next investor a clear starting point for budgeting the project.
PROPERTY SNAPSHOT
Triplex / Multifamily Property
5 Bedrooms / 3 Bathrooms
Approx. 2,672 SF
Built 1912
Approx. 6,466 SF Lot
Basement
Garage
East Cleveland Location
Heavy Rehab Required
THE NUMBERS
Asking Price: $25,000
Estimated Full Rehab: $70,000–$80,000
Projected Rental Income: $3,000+/Month
At the projected rent level, the property could generate $36,000+ in gross annual rental income once fully renovated and stabilized.
VALUE-ADD PLAY
This is not a cosmetic project — it's a full-rehab opportunity designed for an investor who can manage a substantial renovation.
The extremely low acquisition basis creates room to add significant value through a complete renovation and stabilization of all three units.
The projected $3K+/month income provides a strong potential exit through a long-term buy-and-hold strategy, while investors may also evaluate a resale after renovation depending on the final configuration and market conditions.
Public records currently identify the property as a multifamily asset with approximately 2,672 SF and three bathrooms. Realtor.com's current automated valuation is approximately $117K, while nearby multifamily properties show estimated values ranging from roughly $80K to $140K+. These figures should be treated only as preliminary market indicators given the property's heavy-rehab condition.
For fastest response: Cherrie – Dispo Manager Call/Text: (404) 620-2544
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