Fully Occupied Five-Unit
For Sale
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3495 West 98th Street, Cleveland, OH 44102
Fully occupied five-unit multifamily with studio, one-bedroom, and two-bedroom apartments generating approximately $4,775 monthly gross rent.
Property Size5,267 SF
Price / SF$93.98
Days on Market101
Property Features for 3495 West 98th Street
General Information
Standard status
Active
Size
5,267 SF
Property subtype
Multifamily, Land
Zoning
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$42,975
Site & Location
Neighborhood
West Boulevard
Additional Details
Cap Rate
10%
Multifamily Units
5
Building Details
Year Built
1924
Year Renovated
2023
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
Russell Commercial Advisory
Listed By:
Justin Campbell · License #201702330
(216) 801-3599
Source:
Crexi
Added: Jul 20
Changed: Oct 25
Last Checked: Oct 26 at 4:12PM
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 Commercial Advisory
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Investment Insights
Based on property information with market context.
This fully occupied five-unit multifamily property features a diversified unit mix of studio, one-bedroom, and two-bedroom apartments. The current gross rental income is approximately $4,775 per month, or about $57,300 annually. Current rents are reported to be below achievable levels, with one-bedroom units indicated at approximately $1,100–$1,150 per month and two-bedroom units at approximately $1,400–$1,500 per month as leases turn.
The asset is located at 3495 West 98th Street in Cleveland, Ohio, within an established residential rental area.
The property is being offered for sale as a stabilized, in-place income-producing multifamily investment.
The asset is located at 3495 West 98th Street in Cleveland, Ohio, within an established residential rental area.
The property is being offered for sale as a stabilized, in-place income-producing multifamily investment.
Key Highlights
- Fully occupied five‑unit multifamily property (100% occupied) built in 1924
- Diversified unit mix: studio, one‑bedroom, and two‑bedroom apartments
- Currently generating approximately $4,775 per month in gross rental income (about $57,300 annually)
Property Analytics
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Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
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Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied five-unit multifamily with studio, one-bedroom, and two-bedroom apartments generating approximately $4,775 monthly gross rent.
Where is this apartment building located?
The property is located at 3495 West 98th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Fully occupied five‑unit multifamily property (100% occupied) built in 1924; Diversified unit mix: studio, one‑bedroom, and two‑bedroom apartments; Currently generating approximately $4,775 per month in gross rental income (about $57,300 annually)
