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Fairview Court Multifamily Investment Opportunity

12300-12304 Fairview Court, Cleveland, OH 44106

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For Sale

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Eight-unit multifamily property in Cleveland's historic Little Italy neighborhood.

Type:Multifamily

Property size:

4,422 SF

Price / SF:

$197/SF

HighLights

Prime location in the heart of Little Italy, a historic and culturally rich neighborhood.
Close proximity to major institutions like the Cleveland Clinic, University Hospitals, and Case Western Reserve University (CWR).
Eight fully occupied units providing immediate income and appreciation potential.
High rental demand driven by nearby University Circle and new development projects.
Located in an area with significant investment in renovations and preservation.
Two buildings connected by a courtyard.

We can help!

Listing Contact

Kathleen Bassett

Learn more

For Sale

Contact for pricing

Eight-unit multifamily property in Cleveland's historic Little Italy neighborhood.

Type:Multifamily

Property size:

4,422 SF

Price / SF:

$197/SF

Added:: Jun 11, 2025
Days on Market:: 366
Last Refresh:: Mar 16 at 1:15 pm

Property Features for 12300-12304 Fairview Court

General Information

Standard status: Active
Size: 4,422 SF
Property subtype: Multifamily

Building Details

Year Built: 1900

We can help!

Listing Contact

Kathleen Bassett

Listing agent Kathleen Bassett License #OH 2012001595

Listing office Shoreway Realty Group

Listing date Jun 11, 2025

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 Shoreway Realty Group

HighLights

Prime location in the heart of Little Italy, a historic and culturally rich neighborhood.
Close proximity to major institutions like the Cleveland Clinic, University Hospitals, and Case Western Reserve University (CWR).
Eight fully occupied units providing immediate income and appreciation potential.
High rental demand driven by nearby University Circle and new development projects.
Located in an area with significant investment in renovations and preservation.
Two buildings connected by a courtyard.

Overview

The Fairview Court opportunity features eight separate units housed within two side-by-side buildings, connected by a central courtyard. Situated in the heart of Cleveland's Little Italy, the location benefits from its proximity to University Circle, home to the Cleveland Clinic, University Hospitals, Case Western Reserve University, and Cleveland’s Arts and Culture District. The property is fully occupied and offers income and appreciation potential in a historic location. The area is experiencing new development projects and large-scale renovations aimed at preserving the neighborhood's 19th-century integrity. Little Italy was established in the late 19th century by immigrants, primarily from Italy's Abruzzi region. The property size is 4422 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$92.9k	$21.00
− Vacancy	−$3.7k	−$0.84
EGI	$89.1k	$20.16
− OpEx	−$40.1k	−$9.07
NOI	$49.0k	$11.09

4,422 SF · lease $21.00/SF/yr · vacancy 4.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$700.4K

$612.9K – $817.2K (±1% cap)

NOI $49,031 @ 7.0% cap · market cap 5.60%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.08M

$944.2K – $1.26M (±1% cap)

NOI $75,538 @ 7.0% cap · market cap 8.63%

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

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Cleveland
County: Cuyahoga
State: Ohio
Longitude: -81.6065
Latitude: 41.5063

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For sale
Apartment buildings
OH
Cleveland
44106
12300-12304 Fairview Court

What type of property is this?

Apartment building - Eight-unit multifamily property in Cleveland's historic Little Italy neighborhood.

Where is this apartment building located?

The property is located at 12300-12304 Fairview Court Cleveland, OH.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: Prime location in the heart of Little Italy, a historic and culturally rich neighborhood.; Close proximity to major institutions like the Cleveland Clinic, University Hospitals, and Case Western Reserve University (CWR).; Eight fully occupied units providing immediate income and appreciation potential.