562 E 140th St, Cleveland, OH, 44110

Highlights

• - 5,780 SF building with 6 units
• - Built in 1920, renovated in 2024
• - Zoned LR for multifamily/mid-rise development
• - Prime location in Cleveland area
• - 67% occupancy, with potential for increased rental income
• - Updated and modernized interiors
• - Strong rental history and income potential
• - Well-maintained property with curb appeal
• - Proximity to amenities and transportation
• - Attractive investment opportunity in a growing market

Description

Currently, 4 of the 6 units are renovated and generating steady income, while the remaining 2 units require a full renovation, offering significant upside potential. In addition to the potential rental income from the rehabed units, there is a further opportunity to increase revenue by installing laundry facilities in the basement. Recent upgrades of the stabilized units include: Fresh paint, new carpet throughout, tubs reglazed, updated plumbing, all new electrical panels, each unit CMHA approved and inspected (3 tenants are CMHA). Message me for more information and schedule your tour today!

Located in a highly accessible area of Cleveland, just off Waterloo Rd and E 152nd St, this multifamily property presents an exceptional value-add investment opportunity. Conveniently positioned right off I-90, this 6-unit building with 2 one-bedroom units and 4 two-bedroom units makes it an attractive option for investors seeking to enhance rental income and property value