4-unit investment opportunity now available in the most prime location bordering Little Italy and Coventry in Cleveland Heights! Nestled mere moments from Cleveland Clinic and Case Western Reserve, this 4-unit property boasts unbeatable convenience to bars, restaurants, and all the area has to offer. Currently fully occupied, it generates $6,500 in monthly rent. The expansive layout includes (2) 1-bed, 1-bath units on the first floor and (2) 2-bed, 2-bath units spanning the upper floors. Tenants enjoy modern amenities such as in-suite laundry in the 2-bed units and private basement access with laundry for the 1-bed/1-bath units. Each unit features individual furnaces and hot water tanks, with the owner billing back for water/sewer and trash. Recent updates include tiled bathrooms, newer cabinets, stone countertops, and more. With a purchase yielding over a 9% cap rate in one of Cleveland's hottest sub-markets, this property promises both immediate returns and long-term potential. Plus, benefit from newer mechanicals, updated electrical and plumbing, stainless steel appliances, and other thoughtful enhancements. Don't miss out on this exceptional investment opportunity! The county auditor's website states that there are 3 units, 4 bedrooms and 3.5 baths but the owner states that there are 4 units, 6 bedrooms and 6 bathrooms.
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
6
Baths
6
Stories
3
Lot width
83 ft.
Lot depth
275 ft.
Lot size
18,425
Year renovated
2024
Sq. Ft.
4,640
Year built
1916
Style
Multi-Family (2-4 Unit)
County
Cuyahoga County
APN
68504014
Parking Spaces
4
Basement
Yes
Accessible
No
HOA Dues
—
Garage
Yes
Features
—
Last updated by owner on Dec 30, 2024.
MF3
Multiple-Family Residential District
Apartments and other multiple-family dwellings occupy but a small part of the corporate area of Cleveland Heights yet this type of use accommodates about one forth of the City's population. Three zoning districts have been designed to accommodate multiple-family residential uses at varying densities to offer a variety of living environments. Each district is structured to permit more than one principal building on a zoning lot: (a) The MF-1 District is established to provide for townhouses and garden-type apartments where buildings are low two stories and there is ample open space and parking on surface lots usually in the rear of the buildings. These are placed in the MF-1 District which has a minimum lot area per dwelling unit resulting in a density of approximately twelve dwelling units an acre.; (b) The MF-2 District is established to provide for medium density developments of approximately twenty-five dwelling units an acre.; (c) The MF-3 District is established to provide for very high density residential development in limited areas of Cleveland Heights. The standards for the MF-3 District permit development of approximately fifty-eight dwelling units per gross acre.
Jul 31, 2024 • Final
Residential building
Work on a roof replacement.
Roofing
Apr 19, 2022 • Final
Point of sale application
Construct a new multifamily residential building with four units.
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.
Property details
Parking
Garage/Carport Information
Has Garage
# of Garage Spaces: 3
Parking
Features: Detached, Garage
Interior
Virtual Tour
Bathroom Information
# of Full Bathrooms: 6
Room Information
Has Basement
Basement Information: Full
Multi Unit Information
# Of Buildings: 1
Exterior
Building Information
Year Built Source: Public Records
Roof Details: Asphalt, Fiberglass
Construction Details: Aluminum Siding, Vinyl Siding
Lot Information
Lot Size Area: 0.423
Lot Size Acres: 0.423
Lot Size Source: Assessor
Property Information
Above Grade Finished Area: 3,544
Above Grade Finished Area Source: Assessor
Updated/Remodeled
Financial
Tax Information
Annual Tax Amount: $11,482
Tax Year: 2023
Utilities
Utility Information
Sewer: Public Sewer
Water Source: Public
Heating & Cooling
Has Cooling
Cooling: Central Air
Has Heating
Heating: Forced Air, Gas
Public facts
Beds: 6
Baths: 6.0
Sq. Ft.: 4,640
Stories: 2.5
Parking Spaces: 4
Basement: Yes
Accessible: No
Lot Size: 0.42 acres
Style: Multi-Family (2-4 Unit)
Year Built: 1916
Year Renovated: 2024
County: Cuyahoga County
APN: 68504014
HOA Dues: —
Garage: Yes
Features: —
Home facts updated by owner on Dec 29, 2024
Around this home
Schools
Roxboro Elementary School
Public K-5 • Assigned • 1.0mi
6/10
Roxboro Middle School
Public 6-8 • Assigned • 1.0mi
6/10
Cleveland Heights High School
Public 9-12 • Assigned • 1.6mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
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, 16 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 • 44106
Average low and high temperatures (°F)
30
18
36
23
54
35
63
44
66
52
78
64
83
70
78
65
76
61
65
51
51
41
39
28
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.2 hours in
June and 2 hours in December, placing it below the
U.S. average for solar exposure.
9.2 hrs
2 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$590,000 – $714,000
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