3-Unit Apartment
For Sale
$349,000
2313 Grandview Avenue, Cleveland Heights, OH 44106
Cleveland Heights, OH
Property Size3,120 SF
Price / SF$111.86
Days on Market93
Property Features for 2313 Grandview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 3
Subdivision
Cedar Heights Allotment
Standard status
Active
Size
3,120 SF
Amenities
in-unit laundry
basement laundry
granite countertops
central air conditioning
Building Details
Year built
1920
Listing Agency:
Engel & Volkers Cleveland · Engel & Völkers
(440) 568-0400
Listed By:
Val Ivanchenko
(330) 692-1652
Added: Jul 17
Changed: Oct 15
Last Checked: Oct 17 at 12:06PM
MLS# 5219357
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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 apartment property contains three units, including two leased apartments with matching two-bedroom layouts, full baths, living rooms, dining rooms, updated kitchens, and in-unit laundry. The renovated third-floor apartment includes furniture, a full bath, and a flexible layout. A detached three-car garage, two furnaces, two hot water tanks, and two central A/C units are also part of the property. Kitchen appliances and washers and dryers are included. The property is point-of-sale compliant.
The building is near shopping, dining, and entertainment at the top of Cedar Hill, as well as schools, University Circle, hospitals, Case Western Reserve University, and Downtown Cleveland. The roof was replaced in 2023, the front porch and balcony were rebuilt in 2024, and the third floor was remodeled in 2021.
The building is near shopping, dining, and entertainment at the top of Cedar Hill, as well as schools, University Circle, hospitals, Case Western Reserve University, and Downtown Cleveland. The roof was replaced in 2023, the front porch and balcony were rebuilt in 2024, and the third floor was remodeled in 2021.
Key Highlights
- Three apartments in a 3,120‑square‑foot building
- Detached 3‑car garage
- Two leased apartments, each with 2 bedrooms and a full bath
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
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
700
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
Frequently Asked Questions
What type of property is this?
Triplex - The property combines a detached garage with central air conditioning and laundry facilities serving its apartments.
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 3‑car garage; Two leased apartments, each with 2 bedrooms and a full bath
