Renovated 4-Unit
New
For Sale
$515,000
3508 W 135th Street, Cleveland, OH 44111
ResidentialIncome, Cleveland, OH
Property Size2,880 SF
Lot Size0.14 Acres
Price / SF$178.82
Days on Market2
Property Features for 3508 W 135th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 8, Bathroom 3, Bathroom 4, Bathroom 2, Laundry Room, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 5, Basement
Parking features
Driveway
Appliances
Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
Halloway
Elementary school district
Cleveland Municipal - 1809
Middle school district
Cleveland Municipal - 1809
High school district
Cleveland Municipal - 1809
Directions
Loran Road to West 135th Street
Standard status
Active
APN
021-34-063
Size
2,880 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
11 HALLOWAY 0041 ALL
Tax Annual Amount
12431
Legal Description
11 HALLOWAY 0041 ALL
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
off-street parking
Building Details
Year built
1910
Floors in Building
2
Building materials
VinylSiding
Roof type
Rubber
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Lisa K Sisko · License #2012000383
(440) 796-8043
Added: Oct 15
Last Checked: Oct 16 at 3:06AM
MLS# 5252585
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.
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Investment Insights
Based on property information with market context.
This 2,880-square-foot quadplex contains four two-bedroom, one-bathroom apartments, each with an open living and kitchen area and its own laundry. The building was renovated from the studs, with updates to electrical and plumbing systems, insulation, ductwork, windows, entry doors, and the roof. Each apartment has a Goodman high-efficiency furnace with air conditioning, a power-vent water heater, refrigerator, microwave, and electric range. The property was built in 1910 and occupies 0.1436 acres. Three apartments are occupied; the remaining unit is vacant.
Exterior work includes gravel in the driveway and parking area, stained wood, landscaping updates, and tree removal. Public transportation, shops, parks, schools, churches, and Kamms Corners are nearby, with Fairview Hospital approximately 2 miles away. The stated potential cap rate is 9%.
Exterior work includes gravel in the driveway and parking area, stained wood, landscaping updates, and tree removal. Public transportation, shops, parks, schools, churches, and Kamms Corners are nearby, with Fairview Hospital approximately 2 miles away. The stated potential cap rate is 9%.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 2,880 square feet on a 0.1436‑acre lot
- Three of four units occupied; one unit vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,120
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,400
$642.4K
Cap Rate 7%
$458,857
$458.9K
Cap Rate 9%
$356,889
$356.9K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$49.1K $17.04/SF
− Vacancy
−$3.2K −$1.11/SF
EGI
$45.9K $15.93/SF
− OpEx
−$13.8K −$4.78/SF
NOI
$32.1K $11.15/SF
Area
ZIP 44111
Vacancy
6.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,400
Cap Rate 7%
$458,857
Cap Rate 9%
$356,889
Alternative Uses
Best Use
Multifamily LT 5
$458.9K
$401.5K – $535.3K
NOI $32,120 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$364.6K
$319.0K – $425.4K
NOI $25,523 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$542.3K
$474.5K – $632.7K
NOI $37,959 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Explore this area
Business Placement
Demographics for 44111, OH
41,045
Population
19,041
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
6,315
Density / Sq Mi
$54,790
Median Household Income
$38,151
Median Earnings
$938
Median Rent
$130,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments are occupied, while the fourth provides flexibility for an owner-occupant or an additional renter.
Where is this quadplex located?
The property is located at 3508 W 135th Street Cleveland, OH.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 2,880 square feet on a 0.1436‑acre lot; Three of four units occupied; one unit vacant
