Updated Triplex with
For Sale
$524,900
1939 Coltman Road, Cleveland, OH 44106
ResidentialIncome, Cleveland, OH
Property Size2,302 SF
Lot Size0.09 Acres
Price / SF$228.02
Days on Market8
Property Features for 1939 Coltman Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Laundry Room, Basement, Bedroom 3, Bedroom 6, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 7
Parking features
Garage
Appliances
Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
North off Mayfield Road
Standard status
Active
APN
120-30-044
Size
2,302 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6752
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private porch or balcony
wood floors
updated kitchens
updated bathrooms
heated floors in #2 & #3
central air
private laundry in upper unit
shared basement laundry
private backyard
off-street parking
two-car garage
Building Details
Year built
1900
Floors in Building
3
Building materials
AluminumSiding, VinylSiding
Roof type
Fiberglass, Asphalt
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Christopher C Wertz · License #2021001847
(330) 697-8806
Added: Oct 8
Last Checked: Oct 15 at 11:06AM
MLS# 5251506
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,302-square-foot triplex contains three two-bedroom, one-bath units. Updated kitchens and bathrooms, central air in each residence, and wood flooring in many living areas are among the interior features. Units 2 and 3 have heated bathroom floors. The upper unit includes private laundry; shared basement laundry and storage serve the building. A backyard, off-street parking, and a two-car garage complete the property.
The 0.092-acre property is in Cleveland’s Little Italy, near Case Western Reserve University, University Hospitals, Cleveland Clinic, University Circle, museums, restaurants, parks, and entertainment. The three-unit configuration includes private outdoor space for each residence.
The 0.092-acre property is in Cleveland’s Little Italy, near Case Western Reserve University, University Hospitals, Cleveland Clinic, University Circle, museums, restaurants, parks, and entertainment. The three-unit configuration includes private outdoor space for each residence.
Key Highlights
- Three units, each with 2 bedrooms and 1 full bath
- 2,302 square feet on a 0.092‑acre lot
- Central air in every unit; heated bathroom floors in units 2 and 3
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,515
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,300
$550.3K
Cap Rate 7%
$393,071
$393.1K
Cap Rate 9%
$305,722
$305.7K
Market Conditions
NOI Build-Up for 2,302 SF
Gross rent
$41.2K $17.88/SF
− Vacancy
−$1.9K −$0.80/SF
EGI
$39.3K $17.08/SF
− OpEx
−$11.8K −$5.12/SF
NOI
$27.5K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,300
Cap Rate 7%
$393,071
Cap Rate 9%
$305,722
Alternative Uses
Best Use
Multifamily LT 5
$393.1K
$343.9K – $458.6K
NOI $27,515 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$364.6K
$319.1K – $425.4K
NOI $25,525 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$561.8K
$491.5K – $655.4K
NOI $39,323 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,543
Businesses Nearby
Explore this area
Business Placement
Demographics for 44106, OH
26,608
Population
13,287
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
6,188
Density / Sq Mi
$42,869
Median Household Income
$27,056
Median Earnings
$1,024
Median Rent
$241,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - All three residences have two bedrooms, one full bath, and individual porch or balcony access.
Where is this triplex located?
The property is located at 1939 Coltman Road Cleveland, OH.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 full bath; 2,302 square feet on a 0.092‑acre lot; Central air in every unit; heated bathroom floors in units 2 and 3
