Ohio City Investment
4809 Fenwick Avenue, Cleveland, OH 44102
MULTI_FAMILY - Cleveland, OH
Property size:
1,160 SFLot size:
0.11 AcresPrice / SF:
$133/SF- Added:
- May 2, 2025
- Days on Market:
- 386
- Last Refresh:
- May 22 at 6:06 am
Property Features for 4809 Fenwick Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 3
- Rooms
- Basement, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Laundry Room, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3
- Parking features
- Off Street
- Interior features
- EatInKitchen, LaminateCounters
- Exterior features
- Garden, PrivateYard
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- APN
- 006-21-031
- Size
- 1,160 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- 48 T&H S/L 320 SEP 0319 EP
- Tax Annual Amount
- 1070
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Building materials
- ShingleSiding
- Roof type
- Fiberglass, Asphalt
Listing agent Susan C Sasseville License #2002019045 (440) 317-0422
Listing office EXP Realty, LLC. 159 Crocker Park Blvd. #400, Dublin, OH (866) 212-4991
Listing date May 2, 2025
MLS# 5119616
Listing URL
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.
HighLights
- Prime location in the desired Ohio City area, offering a great investment opportunity.
- Potential to expand the lot's acreage by acquiring adjacent city‑owned land.
- Minutes away from the West Side Market and downtown Cleveland.
- Includes both a front home (old farm home) and a back duplex, offering multiple possibilities.
- Close proximity to a dog park, rec center, and Menlo Academy for gifted children.
- Off‑street parking available.
Overview
This property presents an investment opportunity in the Ohio City area. The property includes a front home, formerly an old farm home, and a back duplex that was added later. Both structures require complete restoration. Alternatively, the property could be considered for demolition and new construction. New construction townhomes are located nearby. The City owns overgrown land next to the property, presenting a potential opportunity to expand the lot's acreage. The property is located minutes from the West Side Market and downtown Cleveland. A dog park and rec center are nearby, along with the Menlo Academy for gifted children. The lot size is 0.1065 acres, and the property size is 1160 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$142.9K
NOI $12,862 @ 9.00% cap · cautious / downside scenario
Moderate
$183.7K
NOI $12,862 @ 7.00% cap · market / base-case scenario
Aggressive
$257.2K
NOI $12,862 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.4k | $21.00 |
| − Vacancy | −$974 | −$0.84 |
| EGI | $23.4k | $20.16 |
| − OpEx | −$10.5k | −$9.07 |
| NOI | $12.9k | $11.09 |
1,160 SF · lease $21.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$183.7K
$160.8K – $214.4K
NOI $12,862 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.1K
$247.7K – $330.3K
NOI $19,815 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Multifamily properties
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.720764
- Latitude
- 41.474384
Nearby Similar for Sale
FAQs
What type of property is this?
Residential income property - Investment opportunity in Ohio City near West Side Market.
Where is this residential income property located?
The property is located at 4809 Fenwick Avenue Cleveland, OH.
What is the asking price?
The asking price for this property is $154,900.
What are key features of this property?
This property features: Prime location in the desired Ohio City area, offering a great investment opportunity.; Potential to expand the lot's acreage by acquiring adjacent city‑owned land.; Minutes away from the West Side Market and downtown Cleveland.
