Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cleveland Duplex For Sale Title is generated by Realmo AI

    11815 Kelton Avenue, Cleveland, OH 44106

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Duplex in Cleveland, Ohio, ideal for investors.

    Type:Multifamily
    Added:
    Dec 17, 2024
    Days on Market:
    511
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 11815 Kelton Avenue

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Steven Wilson

    Listing agent Steven Wilson License #2020006263

    Listing office Joseph Walter Realty, LLC

    Listing date Dec 17, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Joseph Walter Realty, LLC

    HighLights

    • Investment opportunity with potential for increased value.
    • Duplex structure suitable for rental income.
    • Off‑street parking available.
    • Detached garage provides additional parking or storage.
    • Property built in 1910.
    • Requires finishing touches and TLC.

    Overview

    This duplex in Cleveland, Ohio, presents an opportunity for investors. The property requires finishing touches and general maintenance. Off-street parking is available, along with a detached garage. The property is intended to provide stable monthly income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6023983
    Latitude
    41.5192866

    Nearby Similar for Sale

    • $450,000
      4,239 SF

      Turnkey Bar in Slavic Village

      Well-appointed bar with banquet hall and parking.
      3614 E 65th Street, Cleveland, OH 44105
      View Details
    • $321,911

      Turnkey Retail Building in Cleveland

      Income-producing retail building with barbershop and salon in Old Brooklyn.
      4491-4493 Pearl Road, Cleveland, OH 44109
      View Details
    • $349,900

      Versatile Commercial Space, Cleveland

      Flexible commercial property with garage, storage, and office space.
      12703 Triskett Road, Cleveland, OH 44111
      View Details
    • $475,000

      Daycare Facility in Cleveland, OH

      Commercial building with established daycare business for sale.
      620 E 185th Street, Cleveland, OH 44119
      View Details
    • $659,000
      3,666 SF

      Updated Triplex in Gordon Square

      Updated three-unit property in Cleveland's vibrant Gordon Square neighborhood.
      6110 W Clinton Avenue, Cleveland, OH 44102
      View Details
    • $419,000
      5,408 SF

      Cleveland Quadplex in Historic District

      Well-maintained townhome-style quad offers four spacious units.
      3422 Daisy Avenue, Cleveland, OH 44109
      View Details
    • $399,000
      4,098 SF

      Renovated Four-Unit Multifamily Property

      Updated 4-unit property near Downtown Cleveland with strong rental appeal.
      7609 Superior Avenue, Cleveland, OH 44103
      View Details
    • $450,000
      3,618 SF

      Duplex in University Heights

      Well-maintained duplex with spacious units and modern updates.
      2312 Milton Road, Cleveland, OH 44118
      View Details
    • $365,000
      7,006 SF

      Fully Leased Four-Unit Apartment Building

      Four-unit apartment building generating $3,840 monthly gross rent.
      2127 W 100th Street, Cleveland, OH 44102
      View Details
    • $699,000

      Turnkey Entertainment Venue Opportunity

      Over 10,000 sq ft flexible space for nightlife, dining.
      3560 E 93rd Street, Cleveland, OH 44105
      View Details
    • $359,900

      Income-Producing Triplex in Kamm's Corner

      Triplex in Kamm's Corner with immediate cash flow.
      3155 Rocky River Drive, Cleveland, OH 44111
      View Details
    • $280,000

      Retail Store with Brick Front

      2,000 SF retail store with updated amenities and parking.
      4873 Broadview Road, Cleveland, OH 44109
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in Cleveland, Ohio, ideal for investors.
    Where is this duplex located?
    The property is located at 11815 Kelton Avenue Cleveland, OH.
    What is the asking price?
    The asking price for this property is $79,000.
    What are key features of this property?
    This property features: Investment opportunity with potential for increased value.; Duplex structure suitable for rental income.; Off‑street parking available.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steven Wilson
    Real Estate License ID: 2020006263
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    11815 Kelton Avenue, Cleveland, OH 44106
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!