Edgewater Multifamily Investment
1368 West Blvd, Cleveland, OH 44102
Fifteen-unit apartment building in Cleveland's desirable Edgewater neighborhood.
Type:Multifamily
Property size:
11,250 SFPrice / SF:
$104/SF- Added:
- Feb 5, 2026
- Days on Market:
- 96
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 1368 West Blvd
General Information
- Standard status
- Active
- Size
- 11,250 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agent Tal Tamir License #OH 2018001908
Listing office Russell Commercial Advisory
Listing date Feb 5, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Russell Commercial Advisory
HighLights
- Solid cash‑flowing asset with a 7.5% cap rate at the asking price, projecting to 8.43% proforma.
- Located in Cleveland's desirable Edgewater neighborhood, near Edgewater Park, Lake Erie beaches, and the Gordon Square arts district.
- Significant upside potential through rent increases and utility bill backs.
- Fully occupied, stabilized asset with a strong tenant base and separately metered electric.
- Recent capital improvements include new hot water tanks, a Tekmar boiler control system, and vinyl windows.
- Spacious units (700‑750 sqft) feature original hardwood floors and generous closet space; a mix of one and two‑bedroom configurations.
Overview
Located in Cleveland's Edgewater neighborhood, this 15-unit apartment building, constructed in 1920, is situated on the historic West Boulevard corridor, a few blocks from Edgewater Park and Lake Erie. The property is near Lakewood, the Gordon Square arts district, and the West Boulevard-Cudell RTA Red Line station, where a $19 million transit-oriented development is underway. The building is fully occupied, with rents ranging from $750 to $1,099 per month, resulting in a total annual gross rent of $163,728. The units, each approximately 700-750 square feet, feature generous closet space. Three units are configured as two-bedrooms, while the remaining units are oversized one-bedroom apartments. Most units have individual breakers and separately metered electric. Water and sewer billback is implemented on newer leases at $50 per month. Recent capital improvements include two new hot water tanks, a new Tekmar boiler control system (with a boiler that is 5-7 years old), and vinyl windows throughout. Ten of the fifteen units have been updated, and the non-renovated units feature original hardwood floors. The property presents an opportunity to continue rent improvements.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.7509773
- Latitude
- 41.4806883
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fifteen-unit apartment building in Cleveland's desirable Edgewater neighborhood.
Where is this apartment building located?
The property is located at 1368 West Blvd Cleveland, OH.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Solid cash‑flowing asset with a 7.5% cap rate at the asking price, projecting to 8.43% proforma.; Located in Cleveland's desirable Edgewater neighborhood, near Edgewater Park, Lake Erie beaches, and the Gordon Square arts district.; Significant upside potential through rent increases and utility bill backs.
