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Storefront + 5 Apartments 8621 Denison Ave 5 Unit Apartment Building $622,125 CAD ($124,425 CAD/Unit) 11.73% Cap Rate Cleveland, OH 44102
EXECUTIVE SUMMARY
Income-producing 6-unit building in the heart of Cleveland's West Side, featuring 3 one-bedroom, one-bath , 2 two-bedroom, one bath apartments and 1 storefront. All apartment tenants are Section 8, paying their own electric and gas, while the owner covers water and sewer. Current rents: Unit 1 $840/month (month-to-month since 8/22), Unit 2 $839month, Unit 3 $810/month (month-to-month since 7/23), Unit 4 $974/month (lease expires 8/26), Unit 5 $999/month (month-to-month since 10/23), and the storefront $1,000/month (lease expires 7/26). Well-maintained and turnkey, this property offers reliable cash flow and excellent investment potential. Located on a bus line and just minutes from downtown, the airport, and freeway access, this building is a prime opportunity for investors seeking immediate income in a high-demand area.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$73,702
|
$9.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$73,702
|
$9.06
|
| Taxes |
$7,987
|
$0.98
|
| Operating Expenses |
$9,340
|
$1.15
|
| Total Expenses |
$17,327
|
$2.13
|
| Net Operating Income |
$56,376
|
$6.93
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $73,702 |
| Annual Per SF | $9.06 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $73,702 |
| Annual Per SF | $9.06 |
| Taxes (CAD) | |
|---|---|
| Annual | $7,987 |
| Annual Per SF | $0.98 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $9,340 |
| Annual Per SF | $1.15 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $17,327 |
| Annual Per SF | $2.13 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $56,376 |
| Annual Per SF | $6.93 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Tub/Shower
1 1
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 017-30-011 | Total Assessment | $70,554 CAD (2024) |
| Land Assessment | $7,070 CAD (2024) | Annual Taxes | $7,987 CAD ($0.98 CAD/SF) |
| Improvements Assessment | $63,484 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
017-30-011
Land Assessment
$7,070 CAD (2024)
Improvements Assessment
$63,484 CAD (2024)
Total Assessment
$70,554 CAD (2024)
Annual Taxes
$7,987 CAD ($0.98 CAD/SF)
Tax Year
2025
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Storefront + 5 Apartments | 8621 Denison Ave
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