Leased Duplex with Updated
5714 Bridge Ave, Cleveland, OH 44102
For Sale
$294,900
Two separately accessed units offer in-unit laundry, updated finishes, off-street parking, and documented leases extending into 2029.
Property Size1,799 SF
Price / SF$163.92
Days on Market53
Property Features for 5714 Bridge Ave
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Utilities to Site
Additional Details
Gross Income
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
private rooftop area
off-street parking
Building Details
Year Renovated
Buildings
Listing Agency:
The Agency Cleveland Northcoast
(216) 415-7080
Listed By:
Candace Papotto · License #2019007055
(440) 212-4971
Source:
Exprealty
Added: Sep 16
Changed: Oct 25
Last Checked: Nov 6 at 11:10AM
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 The Agency Cleveland Northcoast
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Investment Insights
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This two-family property includes 1,799 finished square feet above grade, a full basement, forced-air gas heat with central air, separately metered electric, and rear off-street parking. Both residences have individual access and in-unit laundry. The lower unit features an open living and dining layout, white shaker cabinetry, stainless appliances, stone countertops, a mosaic backsplash, two bedrooms, a bonus room with closet, and a renovated bath. The upper unit has an updated kitchen and bath, luxury vinyl tile, and access from the bedroom to a private rooftop area with deck potential.
Both units are leased under written agreements with scheduled increases extending into 2029. The lower residence is occupied by a corporate tenant under a three-year lease through August 2029, with written short-term rental authorization and tenant responsibility for lawn care, landscaping, and snow removal. Recent capital work includes a complete tear-off roof with architectural shingles, new siding over Tyvek house wrap, gutters, downspouts, east-elevation windows, and an air conditioning condenser. The property is registered as a rental with the City of Cleveland, and a certified lead risk assessment is underway.
Located at 5714 Bridge Ave in Cleveland, the property is approximately a half mile from Gordon Square and minutes from Ohio City, Edgewater, and downtown.
Both units are leased under written agreements with scheduled increases extending into 2029. The lower residence is occupied by a corporate tenant under a three-year lease through August 2029, with written short-term rental authorization and tenant responsibility for lawn care, landscaping, and snow removal. Recent capital work includes a complete tear-off roof with architectural shingles, new siding over Tyvek house wrap, gutters, downspouts, east-elevation windows, and an air conditioning condenser. The property is registered as a rental with the City of Cleveland, and a certified lead risk assessment is underway.
Located at 5714 Bridge Ave in Cleveland, the property is approximately a half mile from Gordon Square and minutes from Ohio City, Edgewater, and downtown.
Key Highlights
- 1,799 finished square feet above grade with a full basement
- Two separately accessed units with written leases extending into 2029
- 2026 complete tear‑off roof, new siding, gutters, downspouts, and east‑elevation windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,503
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,060
$430.1K
Cap Rate 7%
$307,186
$307.2K
Cap Rate 9%
$238,922
$238.9K
Market Conditions
NOI Build-Up for 1,799 SF
Gross rent
$32.2K $17.88/SF
− Vacancy
−$1.4K −$0.80/SF
EGI
$30.7K $17.08/SF
− OpEx
−$9.2K −$5.12/SF
NOI
$21.5K $11.95/SF
Area
Cleveland, OH
Vacancy
4.50%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,060
Cap Rate 7%
$307,186
Cap Rate 9%
$238,922
Alternative Uses
Best Use
Multifamily LT 5
$307.2K
$268.8K – $358.4K
NOI $21,503 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$285.0K
$249.3K – $332.5K
NOI $19,947 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$439.0K
$384.1K – $512.2K
NOI $30,731 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 44102, OH
43,347
Population
22,984
Households
1.9
Avg Household Size
35
Median Age
25%
College-Educated
80%
High-School Grad
6.1 sq mi
ZIP Area
7,106
Density / Sq Mi
$40,303
Median Household Income
$34,958
Median Earnings
$911
Median Rent
$99,300
Median Home Value
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Market
Average Price Trend$/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 - Two separately accessed units offer in-unit laundry, updated finishes, off-street parking, and documented leases extending into 2029.
Where is this duplex located?
The property is located at 5714 Bridge Ave Cleveland, OH.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: 1,799 finished square feet above grade with a full basement; Two separately accessed units with written leases extending into 2029; 2026 complete tear‑off roof, new siding, gutters, downspouts, and east‑elevation windows
