3584 46Th StCleveland, OH 44102

Property Details for 3584 46Th St

Year built

1920

Lot size

0.10 AC

Property type

Apartment buildings

Description

This exceptional 22-unit multifamily investment portfolio presents a compelling opportunity in Cleveland's thriving Near West Side. Comprising 14 single-family homes, 5 duplexes, 1 triplex, and 2 fourplexes, this well-maintained portfolio offers 35 total units generating substantial rental income. The prime location ensures strong rental demand, supported by Cleveland's resurgent economy and growing population. Many units boast long-term tenants, providing stable cash flow and minimizing vacancy concerns. The current Net Operating Income (NOI) is $236,441.52, yielding an 8.55% cap rate, with potential for significant growth to 11.32% through increased rents and professional property management. The After Repair Value (ARV) is estimated at $3,854,030. This portfolio offers a blend of property types, catering to diverse investment strategies, and presents considerable upside potential through value-add renovations and future rent increases. The property is offered at $2,766,100. The 0.1-acre lot is conveniently located near amenities and transportation. Please note: Do not disturb tenants, and property walkthroughs are by appointment only after an accepted offer. An aerial video is available online.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4567

Longitude

-81.7185

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