18707 Shawnee Avenue Cleveland, OH — $145,000

18707 Shawnee Avenue | Cleveland

ATTENTION INVESTORS: TURNKEY SECTION 8 CASH COW \u2014 $1,635/MO WITH MORE UPSIDE! \u2014 CLEVELAND TAXES, HIGH EUCLID RENTS, EXCELLENT DSCR\r\n\r\nThis property is a major cashflow performer, currently generating $1,635/mo \u2014 $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\u2019s interest rates. Massive ratio!\r\n\r\nLocated just blocks from Euclid, it benefits from higher Euclid-level rents while paying lower Cleveland taxes without Euclid POS \u2014 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!\r\n\r\nTurnkey, perfect for investors looking to start with no vacancy down time.\r\n\r\nBig 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\u20132 bedrooms and increase rent significantly. likely increase in rent of $500/mo with two additional basement bedrooms. PRIME AREA!\r\n\r\nLEAD BASE PAINT TESTING COMPLETE AND PASSED!\r\n\r\nFully 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!\r\n\r\nPART OF A LARGER STABILIZED SECTION 8 PORTFOLIO \u2014 INQUIRE FOR INFORMATION ON OTHER LISTINGS.\r\n\r\nDo 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.\u0022 MLSNow 5134354 Directions to property: I-90 E to E 185th St. Take exit 182A from I-90 E\r\n9 min (9.6 mi)\r\n\r\n\r\nContinue on E 185th St. Drive to Shawnee Ave/Wendon Ct