Property Description

Turnkey two-family in Shaker Heights, walking distance to the Van Aken District. One unit rented, one vacant, and priced to sell. Classic brick colonial with a sided extension on a tree lined corner lot. Each unit has its own street address and its own front entrance on a different street, the upper off Chagrin and the lower off Storer. Separate addresses keep leases, mail, and utility accounts cleanly divided, and tenants come and go without crossing paths at the front door. A rear hallway, back stairs, back door, and basement are shared. The lower unit is a fully remodeled 3 bedroom, 1.5 bath. The upper is a newly updated 3 bedroom with 2 full baths. Both offer spacious living areas, fireplaces, and hardwood floors throughout, plus a 3 car garage and generous storage. Each unit has its own laundry in the shared basement, which also holds a large bonus room ready to become an office, gym, or rec space. Walkable addresses near Van Aken, steps from the restaurants, market hall, and shops, draw professional tenants and cut vacancy days. Gas and electric are separately metered, so the owner's only recurring utility expense is water and sewer as the tenants pay Gas and Electric. The property will be Point of Sale compliant at closing. The lower unit is rented at $1,700 per month to a reliable, in place tenant. That is income from day one and roughly $300 under market, as comparable Shaker 3 bedrooms with 1 to 1.5 baths lease near $2,000. The upper unit, with its second full bath, is vacant and move in ready, and comparable 2 bath units near Van Aken support $2,200. That projects about $3,900 per month today, or roughly $4,200 per month and $50,400 annually once the lower unit resets. One vacancy to lease at market, one under rented unit to raise, and two full 3 bedroom units that draw long term family tenants rather than annual churn. Separate addresses, separate front entrances, separate systems, separate meters. Schedule your showing before it is gone.

Property Features

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