UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,536 sqft
Price per Sqft $155
Subdivision Pelton & Jennings Allotment
MLS Listing ID 5169331
Bedrooms 8
Full Baths 4
Construction Status Updated/Remodeled
HOA Y/N No
Abv Grd Liv Area 3,536
Year Built 1920
Annual Tax Amount $9,831
Tax Year 2024
Lot Size 4,752 Sqft
Acres 0.1091
Property Sub-Type Quadruplex
Property Description
Outstanding opportunity to own a well-maintained five-unit multifamily property in the heart of Cleveland's highly desirable Tremont neighborhood. The property includes two buildings on one parcel, featuring three 2-bedroom units and two 1-bedroom units each with its own bath units with spacious layouts and excellent rental appeal.
Four units have been recently updated with modern kitchens, renovated baths, and quality finishes, all featuring refinished original hardwood floors and central air. One unit is currently vacant and another is ready for renovation, providing immediate upside potential for investors seeking to increase overall returns.
When fully leased at market rates, the property is projected to generate approximately $6,025 per month in gross rent. With two units offering near-term value-add opportunities, this investment combines steady current income with attractive growth potential.
Located just steps from Lincoln Park, Tremont's restaurants, cafés, and galleries, and minutes to downtown Cleveland, this property delivers exceptional long-term appreciation and strong tenant demand.
?? Highlights:
Two buildings on one parcel — 5 total units
Three 2 BR units / 1 Bath
Two 1 BR units / 1 Bath
4 units updated and in excellent condition
1 fully rennovated unit vacant
1 unit ready for renovation
Refinished original hardwood floors and central air
Fair-market rent potential: ~$6,025/month when fully leased
Prime Tremont location — walk to Lincoln Park, restaurants, and shops
Location
State OH
County Cuyahoga
Rooms
Basement Common Basement
Interior
Heating Forced Air
Cooling Central Air
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Roof Type Asphalt
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Construction Status Updated/Remodeled
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 004-12-014
