4-Unit Quadplex with Laundry
For Sale
$465,000
1852-1854 W 45th Street, Cleveland, OH 44102
Four apartments have separate entrances, dedicated laundry connections, and a mix of one- and two-bedroom layouts.
Property Size3,700 SF
Price / SF$125.68
Days on Market8
Property Features for 1852-1854 W 45th Street
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Detroit-Shoreway
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Individually Metered Utilities
gas, electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,670
Building Details
Building Size
3,700 SF
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Haven Realty
Listed By:
Michael Azzam · License #2014004734
(440) 503-9609
Source:
Coccarealestate
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 23 at 5:13PM
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 RE/MAX Haven Realty
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Investment Insights
Based on property information with market context.
Built in 1900, this 3,700-square-foot quadplex contains four apartments: two with 2 bedrooms and 1 bathroom each, and two with 1 bedroom and 1 bathroom each. Every unit has a private entrance and laundry hookups. Interior features include LVP flooring, updated kitchens and bathrooms, and modern lighting. Vinyl windows and siding, plumbing improvements, PVC updates, newer hot water tanks, and younger furnaces are also noted. A basement provides additional storage space.
Gas and electric utilities are separately metered. One apartment is occupied on a 12-month lease, while three are vacant. Professional management is in place and willing to continue. The property is at 1852-1854 W 45th Street in Cleveland, with MetroHealth Medical Center, Wendy Park, Edgewater Park, Ohio City, Gordon Square Arts District, downtown, and major highways cited among nearby destinations.
Gas and electric utilities are separately metered. One apartment is occupied on a 12-month lease, while three are vacant. Professional management is in place and willing to continue. The property is at 1852-1854 W 45th Street in Cleveland, with MetroHealth Medical Center, Wendy Park, Edgewater Park, Ohio City, Gordon Square Arts District, downtown, and major highways cited among nearby destinations.
Key Highlights
- Four apartments: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units
- 3,700 square feet; built in 1900
- Private entrance and laundry hookups in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,026
Cap Rate
8.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,520
$820.5K
Cap Rate 7%
$586,086
$586.1K
Cap Rate 9%
$455,844
$455.8K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$77.7K $21.00/SF
− Vacancy
−$3.1K −$0.84/SF
EGI
$74.6K $20.16/SF
− OpEx
−$33.6K −$9.07/SF
NOI
$41.0K $11.09/SF
Area
Cleveland, OH
Vacancy
4.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,520
Cap Rate 7%
$586,086
Cap Rate 9%
$455,844
Alternative Uses
Best Use
Multifamily LT 5
$631.8K
$552.8K – $737.1K
NOI $44,225 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$586.1K
$512.8K – $683.8K
NOI $41,026 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$902.9K
$790.1K – $1.05M
NOI $63,204 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments have separate entrances, dedicated laundry connections, and a mix of one- and two-bedroom layouts.
Where is this quadplex located?
The property is located at 1852-1854 W 45th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Four apartments: two 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units; 3,700 square feet; built in 1900; Private entrance and laundry hookups in each apartment
