1848 Stanwood Road | East Cleveland
Presenting a cash-flowing investment opportunity\u2014a 1,894 sq. ft. Colonial-era (1899) home with a long-term, month-to-month Section 8 tenant already in place. This 4-bedroom, 1.5-bath property generates 1,450/mo. in gross rent. CMHA(Section8) currently covers 1,190/mo. of that amount, with the tenant responsible for the remaining amount. While not fully subsidized, the majority of rent is guaranteed by the housing authority, reducing collection risk compared to traditional market-rate tenants. The asset features a durable slate roof, central A/C, replacement vinyl windows throughout most of the home, and a full unfinished basement for storage or future value-add. The property has undergone significant electrical, plumbing, bathroom, kitchen, HVAC, and interior/exterior repairs. The tenant wishes to remain, and is on a month-to-month lease, giving you flexibility. With a detached 2-car garage and solid bones. MLSNow 5210226
Directions to property: From I-90 East or West (take Exit 177B \u2013 E. 152nd St / Saint Clair Ave):\r\n\r\n Take Exit 177B toward E. 152nd St / Saint Clair Ave\r\n\r\n Turn right onto E. 152nd St (heading south)\r\n\r\n Go 0.3 miles, turn left onto Saint Clair Ave (eastbound)\r\n\r\n Go 0.2 miles, turn right onto Stanwood Rd\r\n\r\n Destination will be on your right in 0.1 miles\r\n\r\nFrom I-90 East only (alternate \u2013 Exit 178B \u2013 E. 185th St):\r\n\r\n Take Exit 178B for E. 185th St south\r\n\r\n Follow E. 185th St for 0.5 miles\r\n\r\n Turn right onto Saint Clair Ave\r\n\r\n Go 0.4 miles, turn left onto Stanwood Rd\r\n\r\n Destination on your right in 0.1 miles
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