18405 Newell RD new Save Request In-Person Tour Request Virtual Tour
Shaker Heights,OH 44122
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,094 sqft
Price per Sqft $100
Subdivision Vansweringen
MLS Listing ID 5119064
Bedrooms 7
Full Baths 3
Half Baths 1
Construction Status Updated/Remodeled
HOA Y/N No
Abv Grd Liv Area 3,094
Year Built 1928
Annual Tax Amount $6,023
Tax Year 2024
Lot Size 6,751 Sqft
Acres 0.155
Property Sub-Type Duplex
Property Description
Discover 18403 Newell Ave, a meticulously updated duplex in vibrant Shaker Heights, OH, listed for $310,000. This exceptional investment property features two units: a charming 2-bedroom, 1-bath unit and a spacious 5-bedroom, 2-bath unit, both boasting modern finishes for low maintenance and strong tenant appeal. With an estimated monthly income of $5,240 ($62,880 annually) and with estimated expenses the property delivers a net operating income of $45,023, a solid 14.5% cap rate, and an impressive cash-on-cash return. The property includes a detached 3-car garage for ample parking or storage and will transfer point of sale compliant with the City of Shaker Heights, ensuring a seamless transaction. Perfectly situated near top-rated Shaker Heights City School District schools, the bustling Van Aken District's dining and shopping, RTA Blue/Green Line public transit, and local businesses, this duplex offers unmatched convenience. Shaker Heights, a premier Cleveland suburb, is celebrated for its historic architecture, tree-lined streets, and proximity to cultural landmarks like the Cleveland Museum of Art and recreational areas such as Shaker Lakes. With easy access to downtown Cleveland, this property is ideal for investors or owner-occupants seeking rental income.
Equal housing opportunity. All information is deemed reliable but not guaranteed; buyers should verify financials and details.
Location
State OH
County Cuyahoga
Rooms
Basement Unfinished
Interior
Heating Hot Water,Steam
Cooling None
Fireplace No
Window Features Insulated Windows
Appliance Refrigerator
Laundry Washer Hookup
Exterior
Parking Features Concrete,Detached,Garage
Garage Spaces 3.0
Garage Description 3.0
Fence Partial
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Construction Status Updated/Remodeled
Schools
School District Shaker Heights Csd - 1827
Others
Tax ID 736-20-041
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan
Special Listing Condition Standard