For Sale
1 / 50
Property summary
This exceptional multifamily investment opportunity presents a unique 28-unit apartment building in Cleveland, Ohio, situated on a 0.25-acre lot. The property, comprised of four three-story buildings, boasts a classic Tudor architectural style, offering 28 spacious units ranging from 600 to 1300 square feet. Built in 1930 and renovated in 2019, 2020, and 2021, the property features a total of 30,000 square feet, with 28,000 square feet of net rentable space. Currently operating at 90% occupancy, the property generates a Net Operating Income (NOI) of $145,500, representing a 5.40% cap rate. However, a pro-forma analysis projects a significant increase in NOI to $268,900 and a 9.98% cap rate, highlighting the value-add potential. The asking price is $2,695,000, translating to $96,250 per unit and $89.83 per square foot. The property is zoned for multifamily use (MF) and enjoys a prime location minutes from the Cleveland Clinic, University Circle, and Case Western Reserve University. This presents a compelling opportunity for investors seeking a strong cash flow with significant upside potential in a desirable Cleveland location. The property's unique architectural character and spacious units provide a competitive advantage in the market. One additional pad is also available.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
Registration is required before any owner information is shown.
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- 30 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- 300 reports a month
- Location Analytics
- Market Trends
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Ownership
- Location Insight
- Alternative use
- Local Zoning Insight
and get 1 Light Report
- Property Information
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Potential
- Location Insight
- Alternative use
- Local Zoning Insight
