Cleveland Multifamily for Sale - Northeast
Property Description:
This property presents a rare value-add and cash-flow hybrid opportunity for investors seeking both immediate returns and long-term upside.
7 Residential Units: Six fully renovated and operating as Airbnb short-term rentals, producing $900–$1,200 per month per unit. The seventh unit is nearly ready for lease, adding more stabilized income.
3 Retail Units: One is newly renovated with a basement and ready for immediate occupancy. The remaining two offer significant upside potential once built out and leased.
12-Room Office Space: Flexible floor plan—lease as a multi-tenant office suite or convert into additional apartments to maximize residential income.
Diversified Income Streams: Combination of stabilized residential, short-term rental premiums, and commercial leasing upside make this property uniquely positioned to outperform traditional multifamily.
Opportunity Zone Advantage: Investors benefit from powerful tax shields on capital gains while also capturing strong cash flow and redevelopment upside.
This asset blends cash-flow stability, redevelopment potential, and tax-advantaged growth, making it a compelling addition to any investor’s portfolio.
Location Description:
The property is located in the South Collinwood neighborhood of Cleveland, an area experiencing steady redevelopment momentum:
Opportunity Zone Location: Full access to federal tax incentives for redevelopment projects.
Rental Demand: Market comps average $600–$750 monthly rents, while this property achieves premium short-term rental rates, proving strong demand
Connectivity: Quick access to I-90, Downtown Cleveland, University Circle, and Lake Erie waterfront. Public transit and neighborhood retail corridors provide daily traffic and tenant convenience.
Economic Drivers: Surrounded by Cleveland’s healthcare, manufacturing, and education hubs, with employers and amenities driving steady housing demand.
Revitalization Momentum: Cleveland has seen billions invested into infrastructure, healthcare, and mixed-use redevelopment, with South Collinwood benefiting from neighborhood improvement initiatives.
Highlights:
The property is located in the South Collinwood neighborhood of Cleveland, an area experiencing steady redevelopment momentum:
Opportunity Zone Location: Full access to federal tax incentives for redevelopment projects.
Rental Demand: Market comps average $600–$750 monthly rents, while this property achieves premium short-term rental rates, proving strong demand
Connectivity: Quick access to I-90, Downtown Cleveland, University Circle, and Lake Erie waterfront. Public transit and neighborhood retail corridors provide daily traffic and tenant convenience
Economic Drivers: Surrounded by Cleveland’s healthcare, manufacturing, and education hubs, with employers and amenities driving steady housing demand
Revitalization Momentum: Cleveland has seen billions invested into infrastructure, healthcare, and mixed-use redevelopment, with South Collinwood benefiting from neighborhood improvement initiatives
Eligible For Cleveland's Storefront Renovation Program
