4-Unit
New
For Sale
$399,900
3205 Denison Ave, Cleveland, OH 44109
Three units are occupied, while the fourth is vacant and described as ready for a tenant.
Property Size2,880 SF
Price / SF$138.85
Days on Market4
Property Features for 3205 Denison Ave
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Multi-Family
Occupancy
75%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$30,000
Building Details
Year Built
1916
Buildings
1
Listing Agency:
RE/MAX Above & Beyond
Listed By:
Armani Adames · License #2020004334
(216) 370-8550
Source:
Theacclaimedrealty
Added: Oct 4
Last Checked: Oct 5 at 9:32PM
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
Investment Insights
Based on property information with market context.
This 4-unit residential property in Cleveland contains four 2-bedroom, 1-bathroom apartments. The building dates to 1916 and measures 2,880 in property size. Three units are occupied, for a reported occupancy of 75%; the remaining unit is vacant and described as rent-ready.
Located at 3205 Denison Ave, Cleveland, Ohio 44109, the property combines occupied apartments with one available unit.
Located at 3205 Denison Ave, Cleveland, Ohio 44109, the property combines occupied apartments with one available unit.
Key Highlights
- Four 2‑bedroom, 1‑bathroom units
- 75% occupancy, with one unit vacant
- Built in 1916
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,424
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,480
$688.5K
Cap Rate 7%
$491,771
$491.8K
Cap Rate 9%
$382,489
$382.5K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$51.5K $17.88/SF
− Vacancy
−$2.3K −$0.80/SF
EGI
$49.2K $17.08/SF
− OpEx
−$14.8K −$5.12/SF
NOI
$34.4K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,480
Cap Rate 7%
$491,771
Cap Rate 9%
$382,489
Alternative Uses
Best Use
Multifamily LT 5
$491.8K
$430.3K – $573.7K
NOI $34,424 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$456.2K
$399.2K – $532.2K
NOI $31,933 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$702.8K
$615.0K – $820.0K
NOI $49,197 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 44109, OH
39,121
Population
19,588
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
81%
High-School Grad
7.1 sq mi
ZIP Area
5,510
Density / Sq Mi
$43,130
Median Household Income
$34,050
Median Earnings
$861
Median Rent
$112,700
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Three units are occupied, while the fourth is vacant and described as ready for a tenant.
Where is this quadplex located?
The property is located at 3205 Denison Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bathroom units; 75% occupancy, with one unit vacant; Built in 1916
