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Income-Producing Property
Investment Opportunity!
Brick 5-Unit Commercial Storefront
Building With Apartments
Cuyahoga County – Euclid City

Absolute auction, sells to the highest bidders on location:

560 E. 200th St., Euclid, OH 44119

Thursday, May 16, 2019  Auction Starts: 12:00 PM    -   Real Estate: 12:00 PM

Directions
Take I-90 east of Cleveland to the 182B exit towards E. 200th St. then left to auction.
Real estate features 3,990 sq. ft. two-story brick building built in 1928. Main level has two large open store fronts, one having barber shop as tenant. Attached one-bedroom apartment efficiency at the rear. Basement for storage and half bath. Second level has two apartments with two bedrooms, full bath, kitchen and living room. Concrete driveway with brick 2.5-car garage with owner storage area and three parking spaces out front. All units have separate utilities, furnaces and hot water heaters. Updates include 2018 rolled rubber roof on main building and some replacement windows. Tenants are responsible for utilities. 40’ x 116’ lot.

RENTS PER MONTH:
Barber shop: $475
Store, currently vacant: $500
Apartment #1: $450
Apartment #2: $500
Apartment #3: $275
Potential monthly income: $2,200
Yearly real estate taxes: $3,952
Yearly insurance: $1,000
Water & sewer: $1,200
Potential net profit: $20,248

NOTE: Open auction day starting at 11:00 AM. Do not disturb the tenants. Long-term owner of 20 years. Rents have never been raised since that time, potential increases in rents in the area are significantly low.

Terms and Conditions:
10% down auction day, balance due at closing. A 10% buyer’s premium will be added to the highest bid to establish the purchase price, which goes to the seller. Any desired inspections must be made prior to bidding. All information contained herein was derived from sources believed to be correct. Information is believed to be accurate but not guaranteed.
George Maamari

Contact Us About This Event:

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Auctioneer/Realtor: Jack W. Kiko
Email: jackkiko@kikocompany.com
Office: 330-455-9357 ext 163
Mobile: 330-206-0174
Fax: 330-453-1765
Auctioneer/Realtor: John D. Kiko AARE, CAI
Email: johnkiko@kikocompany.com
Office: 330-455-9357 ext 122
Mobile: 330-904-5680
Fax: 330-453-1765

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