3432 134Th St Cleveland, OH 44120
- Apartment buildings
- 9,696 SF
- 0.14 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3432 134Th St
- Year built
- 1920
- Lot size
- 0.14 lot acres
- Property size
- 9,696 SF
- Property type
- Apartment buildings
Description
This 11-unit apartment building in Cleveland, Ohio presents a compelling value-add opportunity. The 9,696 square foot, two-story brick building sits on a 0.14-acre lot and boasts a strong 100% occupancy rate. The property includes eleven residential units—one one-bedroom, seven two-bedroom, one three-bedroom, and two retail spaces, each approximately 700 square feet. Recent capital improvements include a new roof, windows, kitchens, bathrooms, and electrical upgrades. The building generates a substantial net operating income (NOI) of $58,606, resulting in a 10.87% capitalization rate. Pro-forma NOI is projected at $60,179, representing an 11.16% pro-forma cap rate. Landlord pays for water, sewer, and trash services. Two residential units are currently enrolled in the Section 8 program, providing a stable income stream. Conveniently located near I-77 and Chagrin Road, this property offers easy access to Little Italy, Case Western Reserve University, and the Cleveland Clinic. Public transportation is readily available. The asking price is $539,000, or $49,000 per unit. The property's address is 3432 E 134th St, Cleveland, OH 44120, with APN 130-08-035. This is a well-maintained, high-performing asset with significant upside potential.
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
- -81.5898
- Latitude
- 41.4654
