Building Details

Year Built 1956

Listing Agency: RE/MAX Above & Beyond

Listed By: Robert J Cole Sr. · License #2016001279 Show Phone

Source: Theacclaimedrealty

Added: Sep 1 Changed: Oct 16 Last Checked: Oct 16 at 11:40AM

Report an Issue

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 Above & Beyond

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Built in 1956, this 21-unit apartment property includes 11 one-bedroom residences of approximately 660 square feet and 10 studio apartments of approximately 500 square feet. Individual units feature forced-air heating, electric ranges, practical kitchen layouts, and access to on-site laundry facilities. A covered garage provides parking for 12 vehicles. The property also has a recently installed flat roof.

The complex is located at 2812 E 130th St in Cleveland, near the Shaker Square area. Public transit, dining, and shopping are identified as nearby conveniences, while the property sits just south of Shaker Square.

Key Highlights

• 21‑unit apartment property with 11 one‑bedroom units and 10 studios
• One‑bedroom apartments measure approximately 660 sq. ft.; studios measure approximately 500 sq. ft.
• Covered garage accommodates parking for 12 vehicles

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,398

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,507,960 $1.5M

Cap Rate 7%

$1,077,114 $1.1M

Cap Rate 9%

$837,756 $837.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,800 SF

Gross rent

$142.8K $21.00/SF

− Vacancy

−$5.7K −$0.84/SF

EGI

$137.1K $20.16/SF

− OpEx

−$61.7K −$9.07/SF

NOI

$75.4K $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%

$1,507,960

Cap Rate 7%

$1,077,114

Cap Rate 9%

$837,756

Alternative Uses

Best Use

Apartment 5plus

$1.08M

$942.5K – $1.26M (±1% cap)

NOI $75,398 @ 7.0% cap · market cap 7.94%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,159 @ 7.0% cap · market cap 12.23%

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

Shakerwood Apartment Building

Suggested Use

Top Pick Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Electrical Service Skin Care Clinic Furniture & Home Goods Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

21

Residential units

Location Intelligence

Trade Area within ½ mile

833

Businesses Nearby

Explore this area Business Placement

Demographics for 44120, OH

34,611

Population

20,583

Households

1.7

Avg Household Size

40

Median Age

37%

College-Educated

90%

High-School Grad

5.2 sq mi

ZIP Area

6,656

Density / Sq Mi

$46,326

Median Household Income

$36,549

Median Earnings

$890

Median Rent

$115,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Similar For Sale Nearby

See more

Multifamily Property with Private Entrances

1691 E 82nd Street, Cleveland, OH 44103

$610,000

6,559 SF

View details

Multifamily Community on Bella Drive

18911 Bella Dr, Cleveland, OH 44119

$1,025,000

View details

9-Unit Brick Apartment Building

2646 N Moreland Boulevard, Cleveland, OH 44120

$790,000

0.31 Acres

View details

Commercial Sale

1978 E 126th, Cleveland, OH 44106

$575,000

4,921 SF

View details

8-Unit Apartment Building

10917 Bernard Ave, Cleveland, OH 44111

$675,000

11,139 SF

View details

Mixed-Use Apartment and Retail Building

8702 Detroit Ave, Cleveland, OH 44102

$975,000

View details

Tremont Mixed-Use Investment Opportunity

801 Literary Rd, Cleveland, OH 44113

$1,500,000

3,900 SF

View details

Windward Place Apartments For Sale

18051 Lakeshore Boulevard, Cleveland, OH 44119

$1,100,000

17,727 SF

View details

28-Unit Apartment Building

2824-2826 E 130th St, Cleveland, OH 44120

$800,000

24,108 SF

View details

Mixed-Use Building with Storefronts

9714 Madison Ave, Cleveland, OH 44102

$500,000

16,125 SF

View details

Renovated Mixed-Use Building

8403 Detroit Avenue, Cleveland, OH 44102

$950,000

0.09 Acres

View details

11-Unit Apartment Building with Laundry

2115 Silverdale Avenue, Cleveland, OH 44109

$750,000

0.26 Acres

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Twenty-one-unit multifamily property with studio and one-bedroom apartments, resident laundry, and secured covered parking.

Where is this apartment building located?

The property is located at 2812 E 130th St Cleveland, OH.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 21‑unit apartment property with 11 one‑bedroom units and 10 studios; One‑bedroom apartments measure approximately 660 sq. ft.; studios measure approximately 500 sq. ft.; Covered garage accommodates parking for 12 vehicles