9-Unit Apartment
For Sale
$399,000
287 E 156th St, Cleveland, OH 44110
Multifamily property in Cleveland, Ohio, with a nine-unit residential configuration.
Property Size6,120 SF
Days on Market153
Property Features for 287 E 156th St
General Information
Standard status
Active
Size
6,120 SF
Property subtype
Multifamily
Occupancy
89%
Additional Details
Cap Rate
6.17%
Multifamily Units
9
Amenities
Owned and Managed by Out-of-State Investors
Located in the Waterloo Arts District, One of Cleveland's Most Creative and Revitalizing Neighborhoods, Known for its Galleries and Live Music Venues
Significant Rent Growth Potential with In-Place Rents $100 Plus Below Comparable Properties
66 Percent of Units Updated with LVP Flooring, New Kitchen Cabinetry, and New Kitchen Countertops, New Bathroom Vanities, New Tub Surrounds, and New Hot Water Tanks
All Units Have Individual Furnaces, Hot Water Tanks, and Through-Wall Air Conditioning Units
Building Details
Building Size
6,120 SF
Units
9
Listing Agency:
Cleveland Office
(216) 264-2000
Listed By:
Michael S. Barron, CCIM · License #OH: 2002021828
(216) 264-2016
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 31
Last Checked: Aug 31 at 7:27AM
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 Cleveland Office
Investment Insights
Based on property information with market context.
Located at 287 E 156th St in Cleveland, Ohio, this apartment property includes 9 residential units. The asset is classified as an apartment building and is suited to multifamily ownership or operation.
The property carries a 6.17% cap rate, providing a key investment metric for evaluating the asset. Its Cleveland location and defined nine-unit configuration establish the core characteristics of the offering.
The property carries a 6.17% cap rate, providing a key investment metric for evaluating the asset. Its Cleveland location and defined nine-unit configuration establish the core characteristics of the offering.
Key Highlights
- 9 residential units
- 6.17% cap rate
- Located at 287 E 156th St, Cleveland, OH 44110
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 44110, OH
17,617
Population
11,140
Households
1.6
Avg Household Size
40
Median Age
13%
College-Educated
84%
High-School Grad
4.1 sq mi
ZIP Area
4,297
Density / Sq Mi
$30,973
Median Household Income
$28,263
Median Earnings
$821
Median Rent
$62,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property in Cleveland, Ohio, with a nine-unit residential configuration.
Where is this apartment building located?
The property is located at 287 E 156th St Cleveland, OH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 9 residential units; 6.17% cap rate; Located at 287 E 156th St, Cleveland, OH 44110
