16226 Arcade Ave Cleveland, OH 44110

Building Details

Year Built

1910

Listing agency KW Commercial

Listed by Erin Thomas · License #oh 20190005940

Source Crexi

Added: Mar 23 Updated: Jul 10 at 1:09PM Checked: Jul 21 at 5:28AM

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Investment Insights

Based on property information with market context.

This 5-unit apartment building is located near the Waterloo Arts District. The property features a unit mix that includes a spacious 3-bedroom unit, two 2-bedroom units, one 1-bedroom unit, and one studio. Recent updates include kitchens, baths, floors, vinyl windows, and paint. All mechanicals and the roof are less than 10 years old, and each unit has its own furnace. The property is currently fully occupied. Tenants have multiple parking options with a detached 3-car garage, a private driveway, and street parking. Additional income is generated from storage rental in the garages. Tenants pay for gas and electric. Trash expenses are $90 per month, insurance is $250 per month, and annual taxes are just over $4000.

Key Highlights

• Prime location steps from the vibrant Waterloo Arts District.
• Strong income potential: Currently generating over $40,000/year.
• Diverse unit mix (3BR, two 2BR, 1BR, Studio) maximizes rental flexibility.

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FAQs

What type of property is this?

Apartment building - Newly updated 5-unit apartment building near Waterloo Arts District.

Where is this apartment building located?

The property is located at 16226 Arcade Ave Cleveland, OH.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: Prime location steps from the vibrant Waterloo Arts District.; Strong income potential: Currently generating over $40,000/year.; Diverse unit mix (3BR, two 2BR, 1BR, Studio) maximizes rental flexibility.