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About this home
INVESTMENT OPPORTUNITY – Fully occupied Cleveland Heights single-family rental offered at $299,900 with a long-term lease and built-in rent growth already in place. Current rent is $2,730/month ($32,760 annually), increasing to $2,870/month in April 2027 and $3,015/month in April 2028. Current lease term extends through April 18, 2029. 1659 Lee Rd offers 6 bedrooms, 2 full baths and more than 2800 square feet of living space. The spacious floor plan features hardwood floors, a large living room, formal dining room, updated kitchen with ample cabinet and counter space, six bedrooms and two full baths. Tenants are responsible for utilities, lawn care and snow removal. Conveniently located near shopping, dining, parks and other Cleveland Heights amenities. An opportunity to acquire an established income-producing single-family rental with scheduled rent growth already in place.
Single-familyProperty Type
1915Year Built
7,901 sq ftLot Size
$147Price/Sq.Ft.
2 car garageParking
Listed by Jeffrey Wang• Keller Williams Greater Metropolitan
Cleveland Heights is a City primarily consisting of single-family residences, most of which are owner-occupied. Single-family residences are extremely sensitive to adverse effects from other land uses and require high standards for occupancy and use of the principal building as well as location and use of accessory buildings if these areas are to be maintained and to continue to be good places in which to live. In addition, certain parts of Cleveland Heights have been developed primarily with two-family residences having a similar character to the single-family districts, and it is appropriate that there be a zoning district for this distinctive use. Single-family and two- family district regulations are established to achieve the following particular objectives: (a) The AA Single-Family District is established to provide for single-family residential uses with a minimum lot size of 15,000 square feet, compatible with the existing larger lot developments in areas so defined, as a means of preserving the unique character of these areas.;(b) The A Single-Family District is established to provide for single-family residential uses on smaller lots with a minimum of 7500 square feet.; (c) The B Two-Family District is established to permit single-family units on lots with a minimum of 7,500 square feet and two-family residential uses with a minimum lot size of 10000 square feet.; (d) To encourage as a conditional use flexible residential development to promote creative and efficient use of land through unified development.;(e) To regulate the location and lot coverage of accessory uses, buildings and structures so as to permit such uses to be established and maintained in a manner which makes them compatible with the existing residential neighborhoods.; (f) To encourage sustainable development and practices in residential neighborhoods.
May 16, 2003 • Final
Migrated
Tear off and replace the roof on a residential building.
Roofing
Nov 4, 1996 • Final
Migrated
Demolish an existing garage and construct a new one.
Demolition
New construction
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 95° expected this year, 17 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 5 days in 30 years
Provided by First Street
Historical weather
Cleveland Heights, OH • 44118
Average low and high temperatures (°F)
28
16
36
22
54
34
63
43
66
50
79
63
84
68
79
62
76
58
65
48
50
38
38
26
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
90/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 19% for direct sun exposure in Cleveland Heights. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.5 hrs
4.7 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1659 Lee Rd
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $273,000 and $425,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $273K to $425K.