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Attention investors! This multifamily property in the rapidly developing Circle East neighborhood is your next value-add project. With solid bones and ample space, this fixer-upper offers incredible profit margins. This side-by-side duplex boasts 3 bedrooms on each side with separate utility meters. Additionally, the attic area has bonus living space. The Circle East District is one of Cleveland's hottest projects and substantial investments with the Cuyahoga County Landbank. Phase I includes a mix of housing types, rebuilding of the waterline and sewer infrastructure, repaving of the streets, new sidewalks, tree lawns, trees, streetlights, and the installation of fiber optic cable. Phase II will begin this year with the groundbreaking of new luxury homes on Penrose Avenue and adjacent streets. These new homes are projected to be listed for over $325,000! The development of new commercial and recreational amenities on Euclid Avenue are included in the plan as well. This is the diamond in the rough you've been looking for! Don't miss this amazing opportunity! Google Circle East District to learn more about this major community revitalization project! Zoned for medical, dental, and apartment/residential. Cash deal. Easy to show!

PROPERTY FEATURES

Water Source : Public Sewer System : PublicSewer
Parking Features : Garage : Yes. Garage Spaces: 2
Roof : Asphalt
Property Sub-Type Additional : Duplex
Heating : Yes. Heating : ForcedAir
Construction Materials : AluminumSiding
Basement Description : Unfinished
Above Grade Finished Area : 2810 S.F Below Grade Finished Area : 100 S.F

PROPERTY DETAILS

Street Address: 1817 Penrose Avenue
City: East Cleveland
State: Ohio
Postal Code: 44112
County: Cuyahoga
MLS Number: 5103833
Year Built: 1907
Courtesy of Keller Williams Greater Cleveland Northeast

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