Updated Multifamily Property in
3333 W 111th St Cleveland, OH 44111
3333 W 111th St, Cleveland, OH, 44111
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For Sale
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Updated 6-unit multifamily property in a quiet residential neighborhood.
Property Size4,702 SF
Price / SF$99.96
Days on Market169
Property Features for 3333 W 111th St
General Information
- Standard status
- Active
- Size
- 4,702 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing Agency
Russell Real Estate Services
Listed by
Jesse Kracht · License #OH
Source
Crexi
Added: Feb 2 Updated: Jul 6 at 12:59 pm Checked: Jul 17 at 7:54 am
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 Russell Real Estate Services
Investment Insights
Based on property information with market context.
This is an updated all-brick 6-unit multifamily property located on the west side of Cleveland, in a quiet residential neighborhood. The property is close to highway access and transportation, and it is located minutes from downtown. Currently, 5 out of the 6 units are occupied, generating a monthly gross rent of $4,060. When fully occupied, the projected monthly gross rent could reach $4,910, with potential rent increases exceeding $5,000 per month. The property size is 4,702 square feet.
Key Highlights
- Rare all brick 6‑unit multi‑family property.
- Updated property on Cleveland's west side in a quiet residential neighborhood.
- Close proximity to highway access, transportation, and downtown.
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 | $80.7k | $17.16 |
| − Vacancy | −$4.9k | −$1.05 |
| EGI | $75.8k | $16.11 |
| − OpEx | −$34.1k | −$7.25 |
| NOI | $41.7k | $8.86 |
4,702 SF · lease $17.16/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$595.3K
$520.9K – $694.5K
NOI $41,670 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.3K
$774.7K – $1.03M
NOI $61,973 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Updated 6-unit multifamily property in a quiet residential neighborhood.
Where is this apartment building located?
The property is located at 3333 W 111th St Cleveland, OH.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Rare all brick 6‑unit multi‑family property.; Updated property on Cleveland's west side in a quiet residential neighborhood.; Close proximity to highway access, transportation, and downtown.
