7511 Jeffries Avenue, Garfield Heights, OH
$275,000
Discover this exceptional, income-generating property that offers both stability potential for growth. This meticulously updated mixed-use asset features two fully renovated residential units (side-by-side duplex) and three commercial garage spaces currently leased to a long-term tenant—all generating a total of $3,750 in monthly rent (18% cash on cash)! Each residential unit has undergone a comprehensive renovation, including: Brand new flooring + fresh paint, Updated light fixtures and modern hardware, Refinished ceilings + complete kitchen + bath remodels, New furnaces + hot water tanks, Updated electrical panels, newer sump pump, Numerous newer windows and Newer Roof! Exterior highlights include durable vinyl siding, private entrances, + a partially fenced backyard. The property also boasts a large parking lot,+ with two dedicated spaces per residential unit, and additional open land at the rear offering added privacy—an ideal feature on a quiet dead-end street. Residential Unit B includes a refreshed basement with generous storage + is currently rented on a 1-year lease at $1,250/month starting May 15. Residential Unit A is rent-ready and currently vacant, offering the flexibility to place your own tenant. (A prospective tenant is already identified and ready to pay $1,000/month, if the buyer chooses.) The commercial component consists of 3 garage bays (used as an auto/mechanic shop) leased together at $1,500/month on a new five-year lease beginning June 1 with 3% annual increases. The garage also includes a private office, + the tenant—who has been occupying the space for over six years—has expressed interest in staying on as property manager for just $200/month, representing approximately 5% of gross income. Each residential unit is separately metered, + property will be delivered Point-of-Sale Compliant! With proximity to parks, major highways, healthcare facilities, retail, dining, + recreation, this is a highly desirable investment in a prime location!
Property Details
| Property Type | Commercial Sale |
|---|---|
| Mls # | 5117454 |
| LotSize | 0.85 acres |
| Property Subtype | Mixed Use |
| Year Built | 1949 |
| Cooling Systems | none (cooling) |
| Heating Fuels | natural gas |
| Parking Types | parking lot |
|---|---|
| Num Of Floors | 0 |
| Roof Types | asphalt,fiberglass |
| School District | Garfield Heights CSD - 1815 |
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Reviews
Leilani was very knowledgeable and helpful in the area of Ohio. She was very attentive to my needs as a buyer. I would highly recommend you give her an opportunity to serve you. A++ service.
03/08/2024 - zuser20180524205745822
Leilani did an excellent job. She was attentive and listened to my wants and needs. I will recommend Leilani because of her dedication to making sure the process went smoothly.
02/08/2024 - msspryor
Leilani is professional and gets the job done. I highly recommend her expertise to anyone looking to purchase in her area. She took care of everything for us.
11/15/2023 - tkennedyail
Leilani went over and above to help me find a home in the neighborhood I wanted. We worked together with me in a different state, and she was ALWAYS responsive and available for questions.. I can’t...
Read more 04/08/2021 - abbdkulakowski
I highly recommend working with Leilani. She’s great in all aspects of purchasing on a property. Extremely knowledgeable and helpful during this entire process.
01/21/2021 - zuser20161209193741194
View more reviewsI couldn't of been more happy working with Leilani on my real-estate transaction. She is very knowledgeable about the market and also kept me in the loop on any issues that came up. I would...
Read more 01/16/2021 - zuser20160306152918268
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