DESCRIPTION - from non-shared Public 1 - 1845 W 48th St, Cleveland, OH 44102.md

Property originally listed for sale on the marketplace by *CLE Airbnb, LLC*.
[Click here](https://learn.lofty.ai/en/articles/6145558-how-the-lofty-marketplace-works) to learn more about how third parties sell their properties on the Lofty Marketplace.
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## NOTE - Title to the property is currently vested in the previous Property Manager, Yhome Nursing LLC ℅ Calixte Duffaut.
- Owners voted to sell the property to Yhome Nursing LLC. See the "Property Updates" section below for more details.
- Refinance/sale proceeds and security deposits totaling $72,683.10 is currently being withheld by Calixte Duffaut.
- DAO Funds Lent to EARLDAO: $72,683.10
- Unpaid Bills Due to Aligned: $2,089.25
- Universal Lending DAO Balance: $8,958.02
- DAO Net Cash: $63,352.05
- [View Owner Statement](https://www.dropbox.com/scl/fi/ujyb89seeqylqve5o40mj/Owner-Statement-2025-05-1845-W-48th-St-Cleveland-OH-44102.pdf?rlkey=7hsbdvviuso9ftd53znnqwyfi&dl=0)
- [View Financial Reconciliation Details](https://www.dropbox.com/scl/fi/0yf0syxxxm58zpguib5nz/Yhome-Transition-Reconciliation.xlsx?rlkey=4rurmo3m2swur63oxq0hafr01&dl=0)
- The Operating Reserve structure and related information will be updated upon completion of the property management transition from Yhome Nursing LLC to ECO Systems LLC.
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2-Unit property (Duplex) located in Cleveland, Ohio.
## Details
- Upper unit was recently renovated with an updated kitchen, LVT flooring, paint, bathroom, and light fixtures
- Flat roof at the back of the house was replaced in 2020
- Large living/family room with lots of natural light and private home feel
- Located just a few blocks from a brewery, coffee shop, and other restaurants
- Lower unit kitchen has a dropped ceiling, which is a secondary ceiling hung below the main (structural) ceiling. This can be viewed on picture 15 and will likely be replaced with a new dropped ceiling in a few years if necessary for around $500, per the seller's estimate.
## Property Management and Insurance
- Managed by ECO Systems LLC
- [Insurance Policy](https://www.dropbox.com/s/ww13hxwfaz0foa3/Property%20Insurance%202023-05-10%20-%201845%20W%2048th%20St%20Cleveland%2C%20OH%2044102.pdf?dl=0) through [Obie Insurance](https://www.obieinsurance.com/)
## Occupancy Status
- **Upper Unit**
- Vacant
- **Lower Unit**
- 1 year lease (04/01/2025 - 03/31/2026)
- $1,195/month
- $1,195 Security Deposit
- [Lease Agreement](https://www.dropbox.com/scl/fi/a7v5s1oofjpf1nhezlc2t/Lease-04-01-2025-03-31-2026-1845-W-48th-St-Unit-1-Cleveland-OH-44102_Redacted.pdf?rlkey=e5kec3i5hppq64ky89ea80nor&st=oamrsfzj&dl=0)
## Location Data
- 3.5/5 Neighborhood Rating on [Roofstock](https://www.roofstock.com/get-neighborhood-rating)
- "B-" Rating for Zip Code on [Niche](https://www.niche.com/places-to-live/z/44102/)
## Due Diligence Documents
- [HouseCanary Property Valuation Report](https://www.dropbox.com/scl/fi/kdcq2rzuo69qasik4oock/Property-Valuation-Reports-May-2024-1845-W-48th-St-Cleveland-OH-44102.pdf?rlkey=an69u6995ftt1u7eaxv4g83ze&st=uchwlsgm&dl=0) (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- [Inspection Report](https://www.dropbox.com/s/1jdnrqen6ky5lpm/Inspection%20Report%20-%20Lofty%20Holding%201845%20W%2048th%20Street%20LLC.pdf?dl=0)
- [Inspection Report Repairs](https://www.dropbox.com/s/7g442plteto9qm3/Repairs%20Completed%20By%20Seller%20-%20Lofty%20Holding%201845%20W%2048th%20Street%20LLC.pdf?dl=0)
- [Purchase Agreement](https://www.dropbox.com/s/292vcuiwgoz492l/Purchase%20Contract%20-%20Lofty%20Holding%201845%20W%2048th%20Street%20LLC.pdf?dl=0)
- [Operating Agreement](https://www.dropbox.com/scl/fi/blqbk5fherzivn3jwxj2b/DAO-Operating-Agreement-1845-W-48th-St-Cleveland-OH-44102.pdf?rlkey=k13ktk1heghb466zg2hbjzep5&dl=0)
- [Closing Statement](https://www.dropbox.com/s/zbv60ibqrk8uxik/Closing%20Documents%20-%20%20Lofty%20Holding%201845%20W%2048th%20Street%20LLC.pdf?dl=0)
- [View All Documents](https://www.dropbox.com/sh/ftcn70lb4kgktgs/AACPpJs9pJqFE1B8nU_CFjXva?dl=0)
- [View All Updates](https://www.loftyassist.com/properties/01FTEMSKZW56XHWQBSMN4X7ZMN)