Property Address: | 15951-15991 Nelacrest Rd., E. Cleveland OH 44121 |
Property Purchase Date: | June 2021 |
Property Purchase Price: | 1.85M |
Diamond Properties LLC Ownership (%) | 70% |
Property Operation Status: | Operational |
Property Debt Structure: | $1.9M |
Rehab (if applicable) status: | 75 to 95% complete |
Total Rehab cost (Capex): | $400K |
Current monthly expense (if any): | $21K |
Property ARV after Rehab: | $3.9M |
Property future outlook: | Fix and Rent |
Outlook details | Multi Family in nice residential area |
Expected Implementation Outlook date: | Sept 2023 |
Expected Rental return Annually | 2024 proforma $600K (current rev 2023 $420K) |
Other details: | 50 units out of 60 rented. 10 units almost completely updated and ready to rent at current market value. Additional 40 garages to rehab and rent for $100/month. |