3432 134Th StCleveland, OH 44120

Property Details for 3432 134Th St

Year built

1920

Lot size

0.14 AC

Property size (Sq ft)

9,696 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 11-unit apartment building in Cleveland, Ohio presents a compelling value-add opportunity. The 9,696 square foot, two-story brick building sits on a 0.14-acre lot and boasts a strong 100% occupancy rate. The property includes eleven residential units—one one-bedroom, seven two-bedroom, one three-bedroom, and two retail spaces, each approximately 700 square feet. Recent capital improvements include a new roof, windows, kitchens, bathrooms, and electrical upgrades. The building generates a substantial net operating income (NOI) of $58,606, resulting in a 10.87% capitalization rate. Pro-forma NOI is projected at $60,179, representing an 11.16% pro-forma cap rate. Landlord pays for water, sewer, and trash services. Two residential units are currently enrolled in the Section 8 program, providing a stable income stream. Conveniently located near I-77 and Chagrin Road, this property offers easy access to Little Italy, Case Western Reserve University, and the Cleveland Clinic. Public transportation is readily available. The asking price is $539,000, or $49,000 per unit. The property's address is 3432 E 134th St, Cleveland, OH 44120, with APN 130-08-035. This is a well-maintained, high-performing asset with significant upside potential.

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.4654

Longitude

-81.5898

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