2549 Kenilworth RdCleveland Heights, OH 44106

Property Details for 2549 Kenilworth Rd

Year built

1920

Property size (Sq ft)

14,420 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 7-unit apartment building in Cleveland Heights, Ohio, offers a compelling investment opportunity. Located at 2549 Kenilworth Rd, this three-story, 14,420 square foot building, constructed in 1920, boasts a prime location minutes from Case Western Reserve University, Notre Dame College, John Carroll University, University Hospitals, and the Cleveland Clinic. Currently generating $9,920 in monthly income ($56,432 NOI) with a 6.38% cap rate, the property presents significant upside potential. Pro-forma projections indicate a NOI of $68,555 and a 7.75% cap rate, achievable through minor cosmetic upgrades and lease adjustments. All seven units are currently occupied and feature spacious layouts with hardwood floors, in-suite laundry, and kitchens with peninsula islands. Some units have recently undergone renovations, including refinished hardwood floors, updated bathrooms, and fresh paint. Five garage spaces provide additional tenant parking. Separate electric meters for each unit simplify utility management. The building's strong location, combined with its current income and potential for increased profitability, makes this a highly attractive investment. The asking price is $885,000 ($126,428.57 per unit and $61.37 per square foot).

Location Insight

City

Cleveland Heights

County

Cuyahoga

State

Ohio

Latitude

41.5084

Longitude

-81.5892

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].