3584 46Th St Cleveland, OH 44102
- Apartment buildings
- 0.10 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3584 46Th St
- Year built
- 1920
- Lot size
- 0.10 lot acres
- Property type
- Apartment buildings
Description
This exceptional 22-unit multifamily investment portfolio presents a compelling opportunity in Cleveland's thriving Near West Side. Comprising 14 single-family homes, 5 duplexes, 1 triplex, and 2 fourplexes, this well-maintained portfolio offers 35 total units generating substantial rental income. The prime location ensures strong rental demand, supported by Cleveland's resurgent economy and growing population. Many units boast long-term tenants, providing stable cash flow and minimizing vacancy concerns. The current Net Operating Income (NOI) is $236,441.52, yielding an 8.55% cap rate, with potential for significant growth to 11.32% through increased rents and professional property management. The After Repair Value (ARV) is estimated at $3,854,030. This portfolio offers a blend of property types, catering to diverse investment strategies, and presents considerable upside potential through value-add renovations and future rent increases. The property is offered at $2,766,100. The 0.1-acre lot is conveniently located near amenities and transportation. Please note: Do not disturb tenants, and property walkthroughs are by appointment only after an accepted offer. An aerial video is available online.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.71845
- Latitude
- 41.45675
