Renovated 4-Unit Multifamily
4518 Mcgregor Avenue, Newburgh Heights, OH 44105
For Sale
New
$400,000
ResidentialIncome, Newburgh Heights, OH
Property Size3,436 SF
Lot Size0.18 Acres
Price / SF$116.41
Days on Market3
Property Features for 4518 Mcgregor Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Water source
Amenities
balconies
laundry areas
Building Details
Year built
Floors in Building
Building materials
Roof type
Buildings
Listing Agency:
Keller Williams Greater Metropolitan · Keller Williams Realty
(216) 839-5500
Listed By:
Terry Young · License OH #237938
(216) 400-5224
Added: Nov 11
Changed: Nov 13
Last Checked: Nov 13 at 9:06PM
MLS# 5259201
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 four-unit multifamily property contains 3,436 square feet on a 0.1837-acre lot and was built in 1918. Renovations in 2023 included flooring, kitchen cabinetry, bathrooms, paint, windows, the asphalt roof, and electrical systems. The building has four furnaces and four hot water tanks. Upper units include layouts with bedrooms, living rooms, kitchens, and full bathrooms; one also has a dining room, and another includes a bonus room. Balconies serve two units, and a lower unit has a rear porch. A partial basement contains laundry areas, and each residence has its own utility meter.
Located at 4518 Mcgregor Avenue in Newburgh Heights, the property has vinyl siding, forced-air natural gas heat, a garage, public water, and public sewer. It is being offered vacant.
Located at 4518 Mcgregor Avenue in Newburgh Heights, the property has vinyl siding, forced-air natural gas heat, a garage, public water, and public sewer. It is being offered vacant.
Key Highlights
- Four‑unit building with 3,436 square feet on a 0.1837‑acre lot
- Renovations completed in 2023 included kitchens, bathrooms, flooring, windows, roof, and electrical
- Four furnaces and four hot water tanks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,432
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$728,640
$728.6K
Cap Rate 7%
$520,457
$520.5K
Cap Rate 9%
$404,800
$404.8K
Market Conditions
NOI Build-Up for 3,436 SF
Gross rent
$55.7K $16.20/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$52.0K $15.15/SF
− OpEx
−$15.6K −$4.54/SF
NOI
$36.4K $10.60/SF
Area
Cuyahoga County, OH
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$728,640
Cap Rate 7%
$520,457
Cap Rate 9%
$404,800
Alternative Uses
Best Use
Multifamily LT 5
$520.5K
$455.4K – $607.2K
NOI $36,432 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$485.2K
$424.6K – $566.1K
NOI $33,966 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$638.3K
$558.5K – $744.7K
NOI $44,679 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 44105, OH
34,100
Population
17,528
Households
1.9
Avg Household Size
38
Median Age
11%
College-Educated
83%
High-School Grad
8.9 sq mi
ZIP Area
3,831
Density / Sq Mi
$38,294
Median Household Income
$32,389
Median Earnings
$888
Median Rent
$56,400
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Cuyahoga County, OH
Properties on Market for Quadplexes in Cuyahoga County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate residences include individual utility meters, multiple balconies, and laundry areas in the partial basement.
Where is this quadplex located?
The property is located at 4518 Mcgregor Avenue Newburgh Heights, OH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four‑unit building with 3,436 square feet on a 0.1837‑acre lot; Renovations completed in 2023 included kitchens, bathrooms, flooring, windows, roof, and electrical; Four furnaces and four hot water tanks
