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$640,000
Est. payment /mo
7,148 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5167331
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1900
Annual Tax Amount $20,232
Tax Year 2024
Lot Size 7,148 Sqft
Acres 0.1641
Property Sub-Type Apartment
Property Description
1862 E 81st Street presents a 10-unit multifamily investment opportunity in Cleveland, Ohio, located within an Opportunity Zone corridor just minutes from Downtown Cleveland, University Circle, and Cleveland Clinic's Main Campus. The property totals approximately 9,336 square feet across 0.16 acres, offering a balanced mix of renovated units and ongoing value-add potential.
This voucher-eligible, 90% occupied asset delivers consistent income with annual rent of $76,681, complemented by recent upgrades including new exterior porches, lead-safe certification through 2027, and interior renovations throughout. One unit is currently under renovation, offering immediate upside upon lease-up.
Location Highlights
Strategically positioned near Cleveland's primary employment and educational hubs, the property is 5 minutes from Cleveland Clinic, 6 minutes from Case Western Reserve University, and 9 minutes from Downtown Cleveland. Tenants benefit from excellent connectivity to I-90, RTA transit lines, and the Opportunity Corridor, ensuring easy access across Greater Cleveland.
Residents enjoy proximity to cultural anchors like Wade Oval, Cleveland Botanical Garden, and the Cultural Gardens, with neighborhood revitalization underway through public and private reinvestment.
Market Drivers
$3.5B Cleveland Waterfront Redevelopment – transforming downtown into a live-work-play destination.
$600M Sherwin-Williams HQ & R&D Campus – 3,500+ jobs in Cleveland's core.
$650M Cleveland State University expansion – boosting student housing and research growth.
$300M+ Cleveland Clinic Innovation District – driving regional healthcare employment.
$50M+ Fairfax Meijer + Housing Project – new mixed-use development strengthening the Innovation District.
This voucher-eligible, 90% occupied asset delivers consistent income with annual rent of $76,681, complemented by recent upgrades including new exterior porches, lead-safe certification through 2027, and interior renovations throughout. One unit is currently under renovation, offering immediate upside upon lease-up.
Location Highlights
Strategically positioned near Cleveland's primary employment and educational hubs, the property is 5 minutes from Cleveland Clinic, 6 minutes from Case Western Reserve University, and 9 minutes from Downtown Cleveland. Tenants benefit from excellent connectivity to I-90, RTA transit lines, and the Opportunity Corridor, ensuring easy access across Greater Cleveland.
Residents enjoy proximity to cultural anchors like Wade Oval, Cleveland Botanical Garden, and the Cultural Gardens, with neighborhood revitalization underway through public and private reinvestment.
Market Drivers
$3.5B Cleveland Waterfront Redevelopment – transforming downtown into a live-work-play destination.
$600M Sherwin-Williams HQ & R&D Campus – 3,500+ jobs in Cleveland's core.
$650M Cleveland State University expansion – boosting student housing and research growth.
$300M+ Cleveland Clinic Innovation District – driving regional healthcare employment.
$50M+ Fairfax Meijer + Housing Project – new mixed-use development strengthening the Innovation District.
Location
State OH
County Cuyahoga
Interior
Heating Hot Water, Steam
Fireplace No
Exterior
Parking Features On Street
Fence Chain Link
Water Access Desc Public
Present Use Multi-Family
Building
Sewer Public Sewer
Water Public
Construction Status Updated/Remodeled
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 119-01-030
Special Listing Condition Standard
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Listed by Victor Kirallah • Citify • 216-206-7695, eliasgeorge@citify.com