Listed By
Agency Name: Elite Sotheby's International Realty
Agency Contact: alex.severyn@elitesothebysrealty.com, 716-359-1155
Shown By
Agent Name: Jennifer Williams
Agent Phone: (614) 271-0407
Agency Title: Cutler Real Estate
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Property Description
Excellent investment opportunity in Shaker Heights! This well-maintained multifamily property at 18518 Newell Road offers strong existing income, quality tenancy, and recent capital improvements. The property is currently leased and generating more than $4,200 per month in rental income, providing immediate cash flow for the next owner. The units are currently utilized by Beechmont Country Club, offering the benefit of an established, reputable tenant and an attractive rental history. Recent improvements include plumbing upgrades in both bathrooms along with updated kitchens featuring stainless steel appliances. The property also includes a highly desirable three-car garage, providing ample parking and additional functionality for tenants. Located in sought-after Shaker Heights, this is an excellent opportunity for an investor looking to acquire a stabilized multifamily asset with strong existing income, credible tenancy, recent improvements, and continued long-term potential. Turnkey income from day one!
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Common Basement, Full
Cooling: None
Days on Market: 1
Garage: 3
Heating: Forced Air, Gas
Lot Size: 0.15 Acres
Roof Type: Asphalt
Stories: 3.0
Taxes: $9,060 / year
Year Built: 1927
Feature Descriptions
Exterior: Brick, Stone, Stucco
Parcel#: 736-20-020
Parking: Detached, Garage
Sewer: Public Sewer
Water: Public
Local Schools
School District: Shaker Heights City
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Estimated Payment
$ 2,865.55 per month $2,002.66 Principal & Interest $755.00 Property Tax $107.89 Homeowner's InsuranceChange Payment Information
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18518 Newell Road | MLS# 5245993
This multi-family property located at 18518 Newell Road , Shaker Heights, OH 44122 is currently listed for sale with an asking price of $369,900. Newell Road is located within the Shaker Heights City school district. Search Shaker Heights real estate on www.jenniferwilliams.homes today.