Renovated
3765 W 138th St, Cleveland, OH 44111
For Sale
$280,000
The apartments comprise a two-bedroom, one-bath layout and a three-bedroom unit with one-and-a-half baths.
Property Size2,736 SF
Price / SF$102.34
Days on Market40
Property Features for 3765 W 138th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Key Realty
Listed By:
Joshua Janus · License OH #2021008169
(216) 284-6736
Source:
Mystarkcountyhome
Added: Oct 2
Changed: Nov 8
Last Checked: Nov 10 at 12:32PM
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 Key Realty
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Investment Insights
Based on property information with market context.
Built in 1927, this 2,736-square-foot duplex contains two apartments. The first-floor residence has two bedrooms and one full bathroom; the upper unit has three bedrooms and one-and-a-half bathrooms. Renovations include kitchens with granite counters, stainless steel appliances, and replacement cabinetry, along with updated bathrooms. Other improvements include replacement windows, refreshed porches, a new garage roof and doors, updated mechanical systems, and central air conditioning.
The property is on Cleveland’s west side, with access to Lorain Avenue, restaurants, retail, parks, and everyday services. Downtown Cleveland, Cleveland Hopkins International Airport, and major highways are also within convenient reach.
The property is on Cleveland’s west side, with access to Lorain Avenue, restaurants, retail, parks, and everyday services. Downtown Cleveland, Cleveland Hopkins International Airport, and major highways are also within convenient reach.
Key Highlights
- 2,736‑square‑foot duplex built in 1927
- First‑floor apartment has 2 bedrooms and 1 full bathroom
- Upper apartment has 3 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,247
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,940
$484.9K
Cap Rate 7%
$346,386
$346.4K
Cap Rate 9%
$269,411
$269.4K
Market Conditions
NOI Build-Up for 2,736 SF
Gross rent
$46.9K $17.16/SF
− Vacancy
−$2.9K −$1.05/SF
EGI
$44.1K $16.11/SF
− OpEx
−$19.8K −$7.25/SF
NOI
$24.2K $8.86/SF
Area
ZIP 44111
Vacancy
6.10%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,940
Cap Rate 7%
$346,386
Cap Rate 9%
$269,411
Alternative Uses
Best Use
Multifamily LT 5
$435.9K
$381.4K – $508.6K
NOI $30,514 @ 7.0% cap · market cap 10.90%
Second Best
Apartment 5plus
$346.4K
$303.1K – $404.1K
NOI $24,247 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$515.2K
$450.8K – $601.0K
NOI $36,061 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
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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
$130,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cleveland, OH
Properties on Market for Duplexes in Cleveland
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The apartments comprise a two-bedroom, one-bath layout and a three-bedroom unit with one-and-a-half baths.
Where is this duplex located?
The property is located at 3765 W 138th St Cleveland, OH.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 2,736‑square‑foot duplex built in 1927; First‑floor apartment has 2 bedrooms and 1 full bathroom; Upper apartment has 3 bedrooms and 1.5 bathrooms
