Property Description

BACK ON THE MARKET AT NO FAULT OF THE SELLERS! Incredible opportunity to own a spacious, income producing 2-family property in a prime Shaker Heights location. The property is a short walk from the shops, restaurants, and entertainment of the Van Aken District and within the highly desirable Shaker Heights school district. Valid POS certificate through 2028. An inspection report is available upon an accepted offer. FHA and VA buyers are welcome! Whether you're looking to live in one unit while the other helps pay your mortgage or add a turnkey income property to your portfolio, this duplex offers excellent flexibility. Situated on a beautiful, tree lined corner lot, this classic brick colonial features two units, each with its own street address and private front entrance. The upper unit enters from Chagrin, while the lower enters from Storer, both units have central air. The rear hallway, staircase, back entrance, and basement are shared.The lower unit is a fully remodeled 3 bedroom, 1.5 bath residence, while the upper unit is a newly updated 3 bedroom, 2 full bath residence that is vacant and move in ready. Both units feature spacious living areas, fireplaces, and hardwood floors throughout. The property offers a three car garage, generous storage, and separate laundry facilities for each unit. A large basement bonus room provides additional flexibility for a home office, gym, or recreation space. Gas and electric are separately metered and paid directly by tenants, leaving water and sewer as the owner's only recurring utility expenses. Lower unit is currently rented for $1,700 per month to a reliable tenant, approximately $300 below market value. The upper unit has an estimated market rental value of $2,200 per month. At current rents, the property offers approximately $3,900 in monthly income. Once the lower unit reaches market rent, the property could generate approximately $4,200 per month, or $50,400 annually. Schedule your private showing today!

Property Features

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