Triplex with Detached
For Sale
$349,000
2313 Grandview Avenue, Cleveland Heights, OH 44106
Two leased apartments and a vacant, renovated upper-level unit provide a mix of current occupancy and flexibility.
Property Size3,120 SF
Price / SF$111.86
Days on Market122
Property Features for 2313 Grandview Avenue
General Information
Standard status
Active
Size
3,120 SF
Total Parking Spaces
3
Property subtype
Residential Income
Site & Location
Neighborhood
Cedar Fairmount
Units
Unit Mix
2 x 2BR/1BA, 1 x studio
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$11,470
Amenities
in-unit laundry
basement laundry
Central Air, Ceiling Fan(s), Window Unit(s)
Natural Gas, Forced Air
Full
Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer
Detached, Garage
Building Details
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
Engel & Volkers Cleveland
Listed By:
Val Ivanchenko
(330) 692-1652
Source:
Evrealestate
Added: Jul 4
Changed: Nov 2
Last Checked: Nov 1 at 5:25AM
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 Engel & Volkers Cleveland
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.
This 3,120-square-foot triplex contains three apartments. The first- and second-floor homes each have two bedrooms, a full bath, living and dining rooms, updated kitchens, and in-unit laundry; both are leased. The vacant third-floor apartment has been renovated and includes a full bath and furnishings. Basement laundry is available for that unit. The property also has a detached three-car garage, two furnaces, two hot water tanks, and two central A/C units. Kitchen appliances and washers and dryers are included. The roof was replaced in 2023, the front porch and balcony were rebuilt in 2024, and the third floor was remodeled in 2021.
The property is on Grandview Avenue in Cleveland Heights, in the Cedar Heights neighborhood. Nearby destinations include shopping and dining at Cedar Hill, schools, University Circle attractions, hospitals, Case Western Reserve University, and Downtown Cleveland.
The property is on Grandview Avenue in Cleveland Heights, in the Cedar Heights neighborhood. Nearby destinations include shopping and dining at Cedar Hill, schools, University Circle attractions, hospitals, Case Western Reserve University, and Downtown Cleveland.
Key Highlights
- Three apartments in a 3,120‑square‑foot building
- Detached three‑car garage
- Two occupied apartments; renovated third‑floor unit is vacant and furnished
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,842
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,840
$616.8K
Cap Rate 7%
$440,600
$440.6K
Cap Rate 9%
$342,689
$342.7K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$59.5K $19.08/SF
− Vacancy
−$3.5K −$1.11/SF
EGI
$56.1K $17.97/SF
− OpEx
−$25.2K −$8.09/SF
NOI
$30.8K $9.89/SF
Area
Cuyahoga County, OH
Vacancy
5.80%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,840
Cap Rate 7%
$440,600
Cap Rate 9%
$342,689
Alternative Uses
Best Use
Multifamily LT 5
$472.6K
$413.5K – $551.4K
NOI $33,081 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$440.6K
$385.5K – $514.0K
NOI $30,842 @ 7.0% cap · market cap 8.84%
Theoretical Best
Warehouse
$2.50M
$2.19M – $2.92M
NOI $174,992 @ 7.0% cap · market cap 50.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
763
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
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Two leased apartments and a vacant, renovated upper-level unit provide a mix of current occupancy and flexibility.
Where is this triplex located?
The property is located at 2313 Grandview Avenue Cleveland Heights, OH.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three apartments in a 3,120‑square‑foot building; Detached three‑car garage; Two occupied apartments; renovated third‑floor unit is vacant and furnished
