287 156Th St, Cleveland, OH 44110
- Apartment buildings
- 5,544 SF
- 0.14 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 287 156Th St
- Year built
- 1960
- Lot size
- 0.14 lot acres
- Property type
- Apartment buildings
Description
This well-maintained, fully occupied nine-unit apartment building presents a compelling investment opportunity in Cleveland's vibrant Waterloo Art District. The brick structure boasts a total of 5,544 square feet situated on a 0.14-acre lot. Each unit is a one-bedroom, one-bathroom apartment. The property currently generates a substantial monthly gross income of $5,500. Tenants are responsible for their own electricity and gas, while the owner covers water, sewer, and common area electricity. The tenant base is a mix of Section 8 and cash-paying residents, offering stability and potential for future rent increases. Recent improvements include some new plumbing and a roof replacement completed just two years ago. Ample paved parking is available for tenants. This property offers a strong return on investment with its consistent cash flow and strategic location within a thriving arts district. The building's solid construction and recent upgrades minimize maintenance concerns, making it an attractive option for both seasoned and new investors seeking a stable and profitable multi-family investment. The current rent structure provides room for growth, further enhancing the property's long-term value. This is a turnkey opportunity to acquire a well-managed income-producing asset in a desirable Cleveland neighborhood.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.57172
- Latitude
- 41.57513
