Remodeled Fourplex with Two-Bedroom
For Sale
$749,900
Pending
1295 Holmden Ave, Cleveland, OH 44109
Fully occupied building with updated kitchens, bathrooms, windows, flooring, and forced-air HVAC.
Property Size4,104 SF
Days on Market55
Property Features for 1295 Holmden Ave
General Information
Standard status
Pending
Size
4,104 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Building Details
Year Built
1890
Listing Agency:
Berkshire Hathaway HomeServices Professional Realty
Listed By:
Seth B Task Sethtask@taskteamcle.com
Source:
Searchclevelandhouses
Added: Aug 24
Changed: Oct 13
Last Checked: Oct 16 at 9:38AM
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 Berkshire Hathaway HomeServices Professional Realty
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Investment Insights
Based on property information with market context.
Located at 1295 Holmden Ave in Cleveland’s historic Tremont neighborhood, this 4,104-square-foot quadplex contains four two-bedroom apartments. The property was extensively rebuilt, with new windows, LVT flooring, open-plan interiors, updated kitchens, renovated bathrooms, and newly installed forced-air HVAC systems.
Each kitchen includes quartz countertops and stainless-steel appliances, including a refrigerator, gas range, microwave, and dishwasher. Bathrooms feature new tile and fixtures. The building is fully occupied and includes a 15-year tax abatement covering a considerable portion of the improvements. Built in 1890, the property combines historic neighborhood placement with comprehensive interior updates.
Each kitchen includes quartz countertops and stainless-steel appliances, including a refrigerator, gas range, microwave, and dishwasher. Bathrooms feature new tile and fixtures. The building is fully occupied and includes a 15-year tax abatement covering a considerable portion of the improvements. Built in 1890, the property combines historic neighborhood placement with comprehensive interior updates.
Key Highlights
- Four‑unit building with four two‑bedroom apartments
- 4,104 SF quadplex at 1295 Holmden Ave
- Extensively rebuilt interiors with new windows and LVT flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,054
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$981,080
$981.1K
Cap Rate 7%
$700,771
$700.8K
Cap Rate 9%
$545,044
$545.0K
Market Conditions
NOI Build-Up for 4,104 SF
Gross rent
$73.4K $17.88/SF
− Vacancy
−$3.3K −$0.80/SF
EGI
$70.1K $17.08/SF
− OpEx
−$21.0K −$5.12/SF
NOI
$49.1K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$981,080
Cap Rate 7%
$700,771
Cap Rate 9%
$545,044
Alternative Uses
Best Use
Multifamily LT 5
$700.8K
$613.2K – $817.6K
NOI $49,054 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$650.1K
$568.8K – $758.4K
NOI $45,505 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.00M
$876.3K – $1.17M
NOI $70,106 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 44109, OH
39,121
Population
19,588
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
81%
High-School Grad
7.1 sq mi
ZIP Area
5,510
Density / Sq Mi
$43,130
Median Household Income
$34,050
Median Earnings
$861
Median Rent
$112,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied building with updated kitchens, bathrooms, windows, flooring, and forced-air HVAC.
Where is this quadplex located?
The property is located at 1295 Holmden Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Four‑unit building with four two‑bedroom apartments; 4,104 SF quadplex at 1295 Holmden Ave; Extensively rebuilt interiors with new windows and LVT flooring
