Alyssa Wallace
REALTOR®
BEDS8
BATHS4 full
SQUARE FEET2,219
MLS#5228504
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONJames F Rhodes Allotment
SCHOOLCleveland Municipal - 1809
Property Description
Rare Detroit Shoreway value-add opportunity with immediate income and substantial upside. Public records identify the property as a duplex, while three units are currently registered with the City, fully occupied, and generating strong cash flow. The second- and third-floor units were renovated within the past three years, leaving a clear path to increased returns through remodeling the first-floor unit and separately metering gas and electric. The basement was previously occupied as a fourth unit but requires proper egress. Ownership obtained pricing below $5,000 for an egress window, creating the potential to complete this and pursue registration of an additional unit, subject to City approval. Projections show an 11.41% cash return after planned improvements. Ideally located near Gordon Square, Edgewater, Lakewood, dining, entertainment, and major commuter routes. Ownership is simply reallocating capital and passing on the potential as an exceptional opportunity for the next investor to capture the upside.
Property Features
Property Type: Multi Unit - Multiple
Basement: Finished, Partially Finished
Basement: Yes
Cooling: None
Garage: 2
Heating: Dual System, Forced Air
Lot Size: 0.14 Acres
Roof Type: Asphalt, Fiberglass
Stories: 3.0
Taxes: $5,245 / year
Year Built: 1910
Feature Descriptions
Appliances: Range, Refrigerator
Exterior: Vinyl Siding
Fencing: Chain Link
Laundry: Common Area
Parcel#: 002-20-012
Parking: Driveway, Detached, Garage, Unpaved
Sewer: Public Sewer
Water: Public
Local Schools
School District: Cleveland Municipal - 1809
Listed By / Shown By
Listed By
Agency Name: Berkshire Hathaway HomeServices Professional Realty
Agency Contact: Sethtask@taskteamcle.com
Shown By
Agent Name: Alyssa Wallace
Agent Phone: (330) 880-3882
Agency Title: DeHOFF REALTORS
Estimate Your Payment
Estimated Payment
$ 1,613.94 per month $1,103.97 Principal & Interest $437.08 Property Tax $72.89 Homeowner's InsuranceChange Payment Information
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8415 Detroit Avenue | MLS# 5228504
This multi-family property located at 8415 Detroit Avenue , Cleveland, OH 44102 is currently listed for sale with an asking price of $249,900. Detroit Avenue is located within the Cleveland Municipal - 1809 school district. Search Cleveland real estate on abrady.dehoff.com today.