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23858942
23858950

3334 W 82nd St, Cleveland, OH 44102

TT
OH 2018001908, OH
Russell Commercial Advisory
Listed by Russell Commercial Advisory
$199,000
359 days on market
Updated 69 days ago

4-Unit on CLE's West Side

Details
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Square Footage 1,950
Units 4
Occupancy 50%
Pro-Forma Cap Rate 12.51%
Pro-Forma NOI $24,900
Broker Co-Op Yes
Class B
Year Built 1910
Buildings 1
Acreage 0.105
Investment Type Stabilized
Ground Lease No

Value-Add | 12.5% Proforma CAP

Marketing description

Incredible opportunity to purchase a four-unit property on the highly sought-after west side of Cleveland! This value-add investment features two two-bedroom, one-bath units (both currently occupied at $550 and $650/month on month-to-month leases), a one-bedroom, one-bath attic unit, and a two-bedroom, one-bath basement unit with a full kitchen and bathroom. Projected market rents are $1,000/month for the two-bedroom units, $800/month for the one-bedroom attic and $850 per month for the basement, bringing the total projected gross annual income to $43,800. Cleveland’s rental market remains strong, driven by steady demand, affordable pricing, and reliable cash flow—making this an excellent market for investors. The property has three gas meters and three electric meters; the owner currently pays utilities for the basement unit. The City of Cleveland Lead Inspection is in process for renewal, with no anticipated issues, giving new ownership a clear path to lead-free certification at closing. A rare chance to secure an easy-to-manage multifamily asset with strong upside in a growing market!

Investment highlights

4-Unit Multi | Perfect for value-add investors

Significant upside from under-market rents

Projected gross annual income - $43,800

Located on Cleveland’s sought-after west side, a proven rental market with steady demand and reliable cash flow

Separate gas & electric meters for three units—owner only pays utilities for basement unit

Month-to-month leases in two of the units allow flexibility for rent increases or renovations to quickly align with market-rate returns

Listing Contacts

TT
OH 2018001908, OH
Russell Commercial Advisory
Listed by Russell Commercial Advisory

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