3-Unit Triplex with Separate
2231 W 104th St, Cleveland, OH 44102
For Sale
$225,000
Separate electrical panels and gas meters support individual utility metering for each residence.
Property Size1,760 SF
Price / SF$127.84
Days on Market11
Property Features for 2231 W 104th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Listing Agency:
EXP Realty, LLC.
(866) 212-4991
Listed By:
Joe Vaccaro · License OH #2006003875
(216) 503-7007
Source:
Exprealty
Added: Oct 30
Changed: Nov 9
Last Checked: Nov 8 at 7:13AM
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 EXP Realty, LLC.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1900, this 1,760-square-foot triplex contains three residences. The first- and second-floor apartments each have a living room, dining room, kitchen, two bedrooms, and a full bathroom. The third-floor unit includes a living room, kitchen, one bedroom, and a full bathroom. Each residence has its own electrical panel and gas meter, allowing utilities to be metered individually.
The property is at 2231 W 104th St in Cleveland, near shopping, public transportation, and restaurants. Freeway access is available nearby, and downtown Cleveland is described as minutes away.
The property is at 2231 W 104th St in Cleveland, near shopping, public transportation, and restaurants. Freeway access is available nearby, and downtown Cleveland is described as minutes away.
Key Highlights
- Three residences totaling 1,760 square feet
- Two first- and second‑floor units each have two bedrooms and a full bathroom
- Third‑floor apartment has one bedroom and a full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,515
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,300
$390.3K
Cap Rate 7%
$278,786
$278.8K
Cap Rate 9%
$216,833
$216.8K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$37.0K $21.00/SF
− Vacancy
−$1.5K −$0.84/SF
EGI
$35.5K $20.16/SF
− OpEx
−$16.0K −$9.07/SF
NOI
$19.5K $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%
$390,300
Cap Rate 7%
$278,786
Cap Rate 9%
$216,833
Alternative Uses
Best Use
Multifamily LT 5
$300.5K
$263.0K – $350.6K
NOI $21,037 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$278.8K
$243.9K – $325.3K
NOI $19,515 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$429.5K
$375.8K – $501.1K
NOI $30,065 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
744
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
$99,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Cleveland, OH
Properties on Market for Triplexes in Cleveland
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Separate electrical panels and gas meters support individual utility metering for each residence.
Where is this triplex located?
The property is located at 2231 W 104th St Cleveland, OH.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Three residences totaling 1,760 square feet; Two first- and second‑floor units each have two bedrooms and a full bathroom; Third‑floor apartment has one bedroom and a full bathroom
