2189 Rexwood Road Cleveland Heights, OH 44118

Turnkey tand beautifully updated and maintained triplex in a prime Cleveland Heights' location! This property is just a short walk from the Cedar-Lee retail district and all it has to offer - from cafes, restaurants, bars, a cinema and yoga studio to the soon-to-be-finished mixed use luxury apartmen...t building. Both first and second floor units offer 2 bedrooms + a sunroom. All 3 units have central AC and in-unit washers and dryers. The 3rd floor has skylights that brighten the space quite nicely. Although current gross rents total almost $45K/year, there is room to increase this to $54K without additional CapEx or doing furnished rentals. Property is fully leased through May 31, 2025. Roof is approximately 5 years old. Updates/Improvements = roof, electrical panels, HWT, kitchens, bathrooms. Tenants pay ALL utilities, including water, sewer, and trash. Off-street parking for 5 cars. Property will transfer POS-compliant. Seller is also selling 2075 Coventry (a triplex) + 1504 East 107 (furnished student housing) + 1520 E 108 (furnished student housing). Continue reading