287 156Th StCleveland, OH 44110

This well-maintained, fully occupied nine-unit apartment building presents a compelling investment opportunity in Cleveland's vibrant Waterloo Art District. The brick structure boasts a total of 5,544 square feet situated on a 0.14-acre lot. Each unit is a one-bedroom, one-bathroom apartment. The property currently generates a substantial monthly gross income of $5,500. Tenants are responsible for their own electricity and gas, while the owner covers water, sewer, and common area electricity. The tenant base is a mix of Section 8 and cash-paying residents, offering stability and potential for future rent increases. Recent improvements include some new plumbing and a roof replacement completed just two years ago. Ample paved parking is available for tenants. This property offers a strong return on investment with its consistent cash flow and strategic location within a thriving arts district. The building's solid construction and recent upgrades minimize maintenance concerns, making it an attractive option for both seasoned and new investors seeking a stable and profitable multi-family investment. The current rent structure provides room for growth, further enhancing the property's long-term value. This is a turnkey opportunity to acquire a well-managed income-producing asset in a desirable Cleveland neighborhood.