Updated 5-Unit Apartment
For Sale
Contact for pricing
Pending
16226 Arcade Ave, Cleveland, OH 44110
Newly updated 5-unit apartment building near Waterloo Arts District.
Property SizeContact for details
Days on Market168
Property Features for 16226 Arcade Ave
General Information
Standard status
Pending
Total Parking Spaces
5
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
1910
Year Renovated
2021
Buildings
2
Stories
2
Units
5
Listing Agency:
KW Commercial
Listed By:
Erin Thomas · License #oh 20190005940
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Jul 24 at 2:00PM
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 KW Commercial
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 44110, OH
17,617
Population
11,140
Households
1.6
Avg Household Size
40
Median Age
13%
College-Educated
84%
High-School Grad
4.1 sq mi
ZIP Area
4,297
Density / Sq Mi
$30,973
Median Household Income
$28,263
Median Earnings
$821
Median Rent
$62,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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.
