2691 116Th St Cleveland, OH 44120

This exceptional 22-unit apartment building presents a compelling value-add investment opportunity in Cleveland, Ohio. Located at 2691 E 116th St, this four-story, 18,772 square foot building (18,700 net rentable) boasts a prime location near Case Western Reserve University, Cleveland Clinic, and University Hospitals. Built in 1929 and renovated in 2019, 2020, and 2021, the property offers significant upside potential. The asking price is $1,515,000, representing a price per unit of $68,863.64 and a price per square foot of $80.71. With a 10% cap rate, this property offers strong potential for cash flow and appreciation. The property is zoned MF and includes one additional parking pad. This is a rare opportunity to acquire a well-located multifamily asset with a proven track record of renovations and strong potential for future growth in a rapidly developing area. The property is currently for sale by owner and is being offered for sale as-is. All information provided is deemed reliable but not guaranteed. Buyers are advised to conduct their own due diligence.