Multi-Family Space For Sale @ 3030 S Moreland Blvd

Portfolio of 36 residential units located a short distance from Shaker Square. The portfolio has been largely remodeled by current owner. Excellent mix of one & two bedroom units. Since purchasing the portfolio, current owner has stabilized and remodeled many of the units increasing monthly rents in the process. Over $44,000 in Capex & $25,000 in unit remodels completed in 2020 alone. Currently, two bedroom units rent for $750-$850 per month. One bedroom units rent for $625-$650 per month. A 9.0% cap rate is possible post-closing as market rents for one bedroom ($705) and two bedroom ($865) will yield additional income combined with lower property management costs. Seller continuing to fill vacant units listed in rent roll. Seller to perform 1031 Exchange after sale of these properties. This space offers accomodations for: lowrisegarden.