Fairview Court Multifamily Investment
12300-12304 Fairview Court Cleveland, OH 44106
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.
Property Size4,422 SF
Price / SF$186.57
Days on Market406
Property Features for 12300-12304 Fairview Court
General Information
- Standard status
- Active
- Size
- 4,422 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing Agency
Shoreway Realty Group
Listed by
Kathleen Bassett · License #OH 2012001595
Source
Crexi
Added: Jun 11, 2025 Updated: Jul 10 at 1:08 pm Checked: Jul 19 at 6:08 am
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| 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
NOI $49,031 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$944.2K – $1.26M
NOI $75,538 @ 7.0% cap · market cap 9.16%
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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FAQs
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 $825,000.
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.
