3-Unit Multifamily
3214 W 61st Street Cleveland, OH 44102
3214 W 61st Street, Cleveland, OH, 44102
$245,000
For Sale
$245,000
MULTI_FAMILY - Cleveland, OH
Property Size1,963 SF
Lot Size1.00 Acres
Price / SF$124.81
Days on Market60
Property Features for 3214 W 61st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bathroom 3, Basement, Bathroom 2, Laundry Room, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2
- Parking features
- Driveway
- Appliances
- Dishwasher, Microwave, Range, Refrigerator
- Standard status
- Active
- APN
- 016-07-023
- Size
- 1,963 SF
- Lot size
- 1.00 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1480
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Building materials
- AluminumSiding
- Roof type
- Asphalt, Fiberglass
Listing agency
Coldwell Banker Schmidt Realty
(440) 327-2123
Listed by
Christopher A Frederick · License #426983
(216) 210-7653
Added: May 23 Updated: Jul 17 at 10:17PM Checked: Jul 21 at 12:06PM
MLS# 5211842
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied multifamily investment package includes a duplex in the front and a separate single-family home in the rear, all on one lot. The duplex features a spacious 2-bedroom unit on the first floor and a 1-bedroom unit on the upper level. The rear home offers a private 1-bedroom layout. Updates include newer vinyl siding, updated vinyl windows, remodeled kitchens and baths, refreshed interior paint, and updated flooring, with appliances included. The property is described as having updated mechanicals, and it is lead certified as of April 2026 per City of Cleveland requirements.
The property is located at 3214 W 61st Street in Cleveland, OH 44102 (Cuyahoga County). It is presented as self-managed and includes secure Section 8 tenants already in place.
As configured, the asset provides two units within the front duplex plus one separate rear home, supporting an investor-ready, low-maintenance setup based on the provided remodeling scope and current occupancy.
The property is located at 3214 W 61st Street in Cleveland, OH 44102 (Cuyahoga County). It is presented as self-managed and includes secure Section 8 tenants already in place.
As configured, the asset provides two units within the front duplex plus one separate rear home, supporting an investor-ready, low-maintenance setup based on the provided remodeling scope and current occupancy.
Key Highlights
- 3‑family investment package: front duplex (2BR first floor, 1BR upstairs) plus separate 1BR single‑family home in the rear
- Fully occupied with Section 8 tenants in place; rental income reported as over $3,100 per month
- Lead certified as of April 2026 to meet City of Cleveland requirements
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.2k | $21.00 |
| − Vacancy | −$1.6k | −$0.84 |
| EGI | $39.6k | $20.16 |
| − OpEx | −$17.8k | −$9.07 |
| NOI | $21.8k | $11.09 |
1,963 SF · lease $21.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$335.2K
$293.3K – $391.1K
NOI $23,463 @ 7.0% cap · market cap 9.58%
Second Best
Apartment 5plus
$310.9K
$272.1K – $362.8K
NOI $21,766 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$479.0K
$419.2K – $558.9K
NOI $33,532 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Turnkey 3-family package with a front duplex and separate rear single-family home, fully occupied and lead certified.
Where is this multifamily property located?
The property is located at 3214 W 61st Street Cleveland, OH.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 3‑family investment package: front duplex (2BR first floor, 1BR upstairs) plus separate 1BR single‑family home in the rear; Fully occupied with Section 8 tenants in place; rental income reported as over $3,100 per month; Lead certified as of April 2026 to meet City of Cleveland requirements
