Multifamily Property Requiring
For Sale
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13921 Mayfair Ave, East Cleveland, OH 44112
A 1920 multifamily property offered as-is and requiring repairs and updates before occupancy or repositioning.
Property Size3,583 SF
Price / SF$8.34
Days on Market51
Property Features for 13921 Mayfair Ave
General Information
Standard status
Active
Size
3,583 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
in need of repairs and updates
Additional Details
Public Transit
Yes
Building Details
Year Built
1920
Listing Agency:
Keller Williams Greater Metropolitan
Listed By:
Kquawan Brown · License #2016004557
(216) 272-4616
Source:
Theacclaimedrealty
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 30 at 6:58PM
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 Keller Williams Greater Metropolitan
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Investment Insights
Based on property information with market context.
Built in 1920, this 3,583-square-foot multifamily property is positioned for renovation and requires repairs and updates. The property is offered strictly as-is, with no repairs to be completed by the seller. Buyers should independently evaluate the building’s condition and confirm any applicable city requirements as part of their due diligence.
The property is located near shopping, public transportation, major roadways, and other local amenities. Its East Cleveland setting provides access to surrounding services and transportation options, while the existing condition presents a substantial renovation scope for an appropriately qualified buyer.
The property is located near shopping, public transportation, major roadways, and other local amenities. Its East Cleveland setting provides access to surrounding services and transportation options, while the existing condition presents a substantial renovation scope for an appropriately qualified buyer.
Key Highlights
- 3,583‑square‑foot multifamily property
- Constructed in 1920
- Requires repairs and updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,419
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,380
$708.4K
Cap Rate 7%
$505,986
$506.0K
Cap Rate 9%
$393,544
$393.5K
Market Conditions
NOI Build-Up for 3,583 SF
Gross rent
$68.4K $19.08/SF
− Vacancy
−$4.0K −$1.11/SF
EGI
$64.4K $17.97/SF
− OpEx
−$29.0K −$8.09/SF
NOI
$35.4K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,380
Cap Rate 7%
$505,986
Cap Rate 9%
$393,544
Alternative Uses
Best Use
Apartment 5plus
$506.0K
$442.7K – $590.3K
NOI $35,419 @ 7.0% cap · market cap 118.46%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.87M
$2.51M – $3.35M
NOI $200,960 @ 7.0% cap · market cap 672.11%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
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Business Placement
Demographics for 44112, OH
18,685
Population
11,828
Households
1.6
Avg Household Size
44
Median Age
17%
College-Educated
86%
High-School Grad
4.0 sq mi
ZIP Area
4,671
Density / Sq Mi
$28,957
Median Household Income
$27,204
Median Earnings
$802
Median Rent
$77,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - A 1920 multifamily property offered as-is and requiring repairs and updates before occupancy or repositioning.
Where is this multifamily property located?
The property is located at 13921 Mayfair Ave East Cleveland, OH.
What are key features of this property?
This property features: 3,583‑square‑foot multifamily property; Constructed in 1920; Requires repairs and updates
