Contacts
Thomas C. Johnston
SVN | SFRhub Marketplace
(602) 403-3695
Property Details
- Property Type Multi-Family
- Property Size 199,528 SF
- Units 184
- Lot Size 26.4 Acre
- Year Built 1916
- Date Updated Apr 3, 2024
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Highlights
- 141 homes are Section 8 properties
- Average vintage of homes is 1916
- Average home size: 1,084 square feet
- Variety of one, two, three, four, and five-bedroom homes
- Mix of single-family homes, duplexes, and small multi-family properties
- Fully leased to thoroughly vetted tenants (100% occupancy)
- Current rents are 10% below market rates
- Average home price: $65,217, one-third of Cleveland’s median home price
- Assured rent through government-subsidized Section 8 housing
- Value-add potential through property management efficiencies and transitioning utility costs to tenants
- In-place Cap Rate: 8.98%
- Year 1 Stabilized Cap Rate: 13.98%
- All SVN® Offices Are Independently Owned & Operated
- Local Broker License Information: www.SFRhub.com/realestatelicensing
Getting around
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Location
- City Cleveland, OH
- Neighborhood Downtown Cleveland
- Zip Code 44220
- Market Cleveland Akron
Points of Interest
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Tower City
0.11 miles
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Settlers Landing
0.37 miles
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West 3rd
0.42 miles
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Cleveland
0.43 miles
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Flats East Bank
0.48 miles
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East 9th–North Coast
0.50 miles
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South Harbor
0.76 miles
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West 25th–Ohio City
1.07 miles
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Tri-C–Campus District
1.72 miles
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West 65th–Lorain (Eco-Village)
2.36 miles
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Sunoco
0.50 miles
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BP
0.68 miles
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BP
1.30 miles
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BP
1.36 miles
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Shell Gas Station
1.45 miles
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Ohio City Gas
1.51 miles
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Quincy Gas
1.93 miles
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Marathon
1.93 miles
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Sunoco
2.05 miles
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BP
2.05 miles
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Ontario Street Parking Garage
0.14 miles
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Collection Auto Group Centre
0.22 miles
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515 Garage
0.25 miles
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Fifth Third Center
0.29 miles
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KeyBank Garage
0.34 miles
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Gateway East
0.43 miles
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Willard Park Garage
0.43 miles
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Huntington Garage
0.44 miles
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1100 Superior Garage
0.45 miles
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Reserve Square Parking
0.56 miles
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Renaissance Cleveland Hotel
0.05 miles
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Cleveland Marriott Downtown at Key Tower
0.14 miles
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The Ritz-Carlton
0.14 miles
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Hyatt Regency Cleveland at The Arcade
0.21 miles
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Drury Plaza Hotel Cleveland Downtown
0.24 miles
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Hilton Cleveland Downtown
0.26 miles
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Residence Inn Cleveland Downtown
0.28 miles
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Holiday Inn Express
0.30 miles
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Westin
0.32 miles
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Hampton Inn Cleveland Downtown
0.35 miles
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Tower City Center
0.09 miles
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5th Street Arcades
0.27 miles
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Constantino's Market
0.35 miles
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CGX
0.42 miles
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Heinen's
0.43 miles
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Galleria at Erieview
0.45 miles
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Coast Guard Exchange
0.70 miles
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Dave's
1.16 miles
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Dave's
1.90 miles
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Save-A-Lot
2.00 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Contact Listing Broker
Thomas C. Johnston
SVN | SFRhub Marketplace
(602) 403-3695