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    3584 46Th St Cleveland, OH 44102

    Sponsored
    For Sale
    $2,766,100

    22-Unit Investment Opportunity in Near West Side

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional 22-unit multifamily investment portfolio presents a compelling opportunity in Cleveland's thriving Near West Side. Comprising 14 single-family homes, 5 duplexes, 1 triplex, and 2 fourplexes, this well-maintained portfolio offers 35 total units generating substantial rental income. The prime location ensures strong rental demand, supported by Cleveland's resurgent economy and growing population. Many units boast long-term tenants, providing stable cash flow and minimizing vacancy concerns. The current Net Operating Income (NOI) is $236,441.52, yielding an 8.55% cap rate, with potential for significant growth to 11.32% through increased rents and professional property management. The After Repair Value (ARV) is estimated at $3,854,030. This portfolio offers a blend of property types, catering to diverse investment strategies, and presents considerable upside potential through value-add renovations and future rent increases. The property is offered at $2,766,100. The 0.1-acre lot is conveniently located near amenities and transportation. Please note: Do not disturb tenants, and property walkthroughs are by appointment only after an accepted offer. An aerial video is available online.

    Property Features for 3584 46Th St

    General Information

    Property type
    Residential income properties
    Lot Size
    4,356 SF

    Building Details

    Year Built
    1920
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.71845
    Latitude
    41.45675

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    FAQs

    What type of property is this?
    Residential income property - 22-Unit Investment Opportunity in Near West Side
    Where is this residential income property located?
    The property is located at 3584 46Th St Cleveland, OH.
    What is the asking price?
    The asking price for this property is $2,766,100.
    (440) 449-9100
    Request Owner's contact information
    3584 46Th St Cleveland, OH 44102
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    Cleveland, OH 44102
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3584 46Th St Cleveland, OH 44102
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