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Ohio City Four-Unit Multifamily Property

3202 Whitman Avenue Cleveland, OH 44113

3202 Whitman Avenue, Cleveland, OH, 44113

$365,000

Pending

For Sale

$365,000

Pending

MULTI_FAMILY - Cleveland, OH

Property Size2,310 SF

Lot Size0.08 Acres

AddedFeb 23

Days on Market143

Last RefreshJul 16 at 7:06 am

Property Features for 3202 Whitman Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 4
Bathrooms: 4
Rooms: Bedroom 3, Bathroom 1, Basement, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 4, Bathroom 3
Parking features: Garage, On Street, Assigned
Exterior features: PrivateEntrance
Standard status: Pending
APN: 003-31-050
Size: 2,310 SF
Lot size: 0.08 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: 52 B&L EP TRI 0630
Tax Annual Amount: 9159

Utilities

Sewer type: Public Sewer
Heating system: Forced Air
Water source: Public

Building Details

Year built: 1895
Floors in Building: 2
Building materials: WoodSiding
Roof type: Shingle, Asphalt

Listing agent Denise M Zervos License #434229

Listing office Platinum Real Estate 7200 Center Street, Willoughby, OH

Listing date Feb 23, 2026

MLS# 5188503 Listing URL

Investment Insights

Based on property information with market context.

Located in the heart of Ohio City, this four-unit property offers immediate income with significant upside. Three of the four units are currently occupied on month-to-month leases, providing in-place cash flow while allowing flexibility for repositioning or rent adjustments to market rate. One vacant one-bedroom unit (approximately 450 SF) creates an immediate opportunity for lease-up or owner-occupancy. The property is situated on a corner lot near West 25th and has separate entrances. The property size is 2310 square feet and the lot size is 0.0772 acres. This asset is suitable for long-term hold, value-add reposition, house-hack strategy, and portfolio expansion in a high-demand corridor. Market rents in Ohio City for comparable 1 bed / 1 bath units commonly range between $800-$1,200+ per month, depending on size, condition, and finishes.

Key Highlights

Four‑unit property with wood siding, asphalt shingle roof, and forced‑air heating
Three of four units are currently occupied on month‑to‑month leases; one 1‑bedroom unit is vacant
One vacant 1‑bedroom unit is approximately 450 SF

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$41.3k	$17.88
− Vacancy	−$1.9k	−$0.80
EGI	$39.4k	$17.08
− OpEx	−$11.8k	−$5.12
NOI	$27.6k	$11.95

2,310 SF · lease $17.88/SF/yr · vacancy 4.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$394.4K

$345.1K – $460.2K (±1% cap)

NOI $27,611 @ 7.0% cap · market cap 7.56%

Second Best

Apartment 5plus

$365.9K

$320.2K – $426.9K (±1% cap)

NOI $25,613 @ 7.0% cap · market cap 7.02%

Theoretical Best

Office A

$563.7K

$493.3K – $657.7K (±1% cap)

NOI $39,460 @ 7.0% cap · market cap 10.81%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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For sale
Quadplexes
OH
Cleveland
44113
3202 Whitman Avenue

What type of property is this?

Quadplex - Four-unit property in prime Ohio City location with upside.

Where is this quadplex located?

The property is located at 3202 Whitman Avenue Cleveland, OH.

What is the asking price?

The asking price for this property is $365,000.

What are key features of this property?

This property features: Four‑unit property with wood siding, asphalt shingle roof, and forced‑air heating; Three of four units are currently occupied on month‑to‑month leases; one 1‑bedroom unit is vacant; One vacant 1‑bedroom unit is approximately 450 SF

3202 Whitman Avenue Cleveland, OH 44113

MULTI_FAMILY - Cleveland, OH

Property Features for 3202 Whitman Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

All-Brick Freestanding Office Building

Turnkey Retail Building in Cleveland

Historic Duplex with 10-Foot Ceilings

Renovated Three-Unit Multifamily

Daycare Facility in Cleveland, OH

Mixed-Use Office and Residential Property

Turnkey Bar and Restaurant with Banquet Hall

Turnkey Remodeled Duplex

Street-Level Commercial Condo with Display Window

Remodeled Triplex with Three Units

Triplex With Updated Units

Turnkey Triplex in South Collinwood

FAQs