$1,150,000
The Marloes Apartments
Details
APN 672-24-063
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,731
Units 24
Cap Rate 9.25%
NOI $106,351
Occupancy 100%
Price per SqFt $69
Broker Co-Op No
Class B
Year Built 1920
Year Renovated 2014
Buildings 1
Stories 3
Acreage 0.430
Zoning APTS 20-39
Investment Type Stabilized
Ownership Alain G Ndoutoume
Sale Condition For sale by owner
Multifamily | 24 Units | $54,146/unit
Marketing description
Welcome to The Marloes Apartments, a beautifully renovated 24-unit multifamily investment gem located at 1874 Marloes Ave, East Cleveland, OH 44112. Built in 1920 and thoughtfully updated in 2014, this well-maintained, Class B low-rise property spans three stories above a full basement and offers 16,731 SF of living space on a 0.43-acre lot. Featuring one-bedroom, one-bath units averaging 750 SF each, the property boasts an impressive 100% occupancy rate. Exterior highlights include a red brick façade, composition roof, and convenient on-street parking—all contributing to its strong curb appeal.
Investment highlights
- Strong Income Performance: Full occupancy (100%) signals tenant demand and stable cash flow
- Recent Capital Improvements: Building was renovated in 2014, reducing near-term capex risk and modernizing unit interiors
- Desirable Unit Mix: 24 efficiently configured 1 BR/1 BA units (~750 SF) appeal to renters seeking affordability and functional layouts
- Favorable Zoning & Layout: Zoned for 20–39 units with full basement, offering potential for further value enhancement.
- Strategic Location: Situated in East Cleveland’s H.A. Hawgoods subdivision, the property is close to parks, schools, public transit, and key roadways—an ideal setting for working professionals and families
Listing Contacts
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,351.00
$8,862.58/mo
Valuation Metrics
0
DSCR
9.25%
Cap Rate
9.25%
ROI
Map
Zoning
U2-A2-H2 ResidentialMulti FamilyApartment
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View all 27 uses
View all 27 uses Last updated Apr 15, 2026 For deeper zoning details, reports are available at Zoneomics
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