7-Unit Mixed-Use
For Sale
Contact for pricing
Pending
4818 Memphis Avenue, Cleveland, OH 44144
Corner positioning combines residential apartments, commercial storefronts, rear parking, and separate utilities for each unit.
Property SizeContact for details
Days on Market144
Property Features for 4818 Memphis Avenue
General Information
Standard status
Pending
Property subtype
Special Purpose
Site & Location
Corner Location
Yes
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Cap Rate
13.4%
Amenities
ceiling fans
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
LPT Realty
(216) 373-7727
Listed By:
Mike Ferrante · License #2008004067
Source:
Crexi
Added: Apr 12
Changed: Aug 30
Last Checked: Aug 30 at 5:50PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This 7-unit mixed-use property combines four upstairs residential units with three commercial spaces on the ground floor. Each residential unit has two bedrooms; three are leased, while the fourth serves as an on-site management office. A professional manager is expected to remain with the property. Two long-term tenants have occupied the building for decades.
The property occupies the corner of Memphis Avenue and W 49th and includes a rear lot with ample off-street parking. Separate utilities serve each unit, and building updates include upgraded electric panels, newer hot water tanks, and ceiling fans. The property is positioned near freeways, Downtown Cleveland, the airport, and shopping. The reported cap rate is 13.4% before management.
The property occupies the corner of Memphis Avenue and W 49th and includes a rear lot with ample off-street parking. Separate utilities serve each unit, and building updates include upgraded electric panels, newer hot water tanks, and ceiling fans. The property is positioned near freeways, Downtown Cleveland, the airport, and shopping. The reported cap rate is 13.4% before management.
Key Highlights
- 7‑unit configuration with four residential units and three commercial spaces
- Four upstairs apartments are configured as 2‑bedroom units
- Three of four residential units are rented; one is used as the management office
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 44144, OH
21,361
Population
9,994
Households
2.1
Avg Household Size
42
Median Age
20%
College-Educated
88%
High-School Grad
5.5 sq mi
ZIP Area
3,884
Density / Sq Mi
$59,775
Median Household Income
$37,318
Median Earnings
$923
Median Rent
$138,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner positioning combines residential apartments, commercial storefronts, rear parking, and separate utilities for each unit.
Where is this mixed-use property located?
The property is located at 4818 Memphis Avenue Cleveland, OH.
What are key features of this property?
This property features: 7‑unit configuration with four residential units and three commercial spaces; Four upstairs apartments are configured as 2‑bedroom units; Three of four residential units are rented; one is used as the management office
