576 152Nd StCleveland, OH 44110

Property Details for 576 152Nd St

Year built

1925

Construction

TYPE NOT SPECIFIED

Lot size

0.16 AC

Property size (Sq ft)

3,600 SF

Zone code

GR

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

112-25-025

APU

11225025

Description

This exceptional 18-unit apartment building, located at 576 E 152nd St in Cleveland, Ohio, presents a compelling investment opportunity. Built in 1925, the property boasts a substantial 3,600 square feet situated on a 0.162-acre lot. Currently operating at 100% occupancy, this multifamily asset offers a strong, immediate return on investment. Each of the 18 units is configured in a dormitory style, providing efficient management and consistent rental income. The asking price is $299,900, translating to an attractive price per unit of $16,661.11 and a price per square foot of $83.31. The property's location in Cleveland's Cuyahoga County, zip code 44110, offers convenient access to local amenities and transportation. The property's APN is 112-25-025. This well-maintained building represents a solid foundation for building a portfolio or adding to an existing one, offering significant potential for future appreciation and cash flow. The property's strong occupancy rate and established rental income stream make it an ideal choice for investors seeking a stable and profitable investment in the Cleveland real estate market. This is a rare opportunity to acquire a well-positioned multifamily property in a thriving urban area.

• CAP approach

  CAP return

  Valuation

  6%

  $922,670

  6.5%

  $851,696

  7%

  $790,860

• Comparable approach

  Method

  Valuation

  Relative Method

  $393,990

  Geo Method

  $393,990

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,505,520

  Retail / Commercial

  $738,428

  Mixed-Use / Specialty

  $709,320

  Hospitality / Lodging

  $485,936

  Office

  $677,531

  Institutional / Educational

  $727,945

  Multifamily

  $1,168,250

  Automotive / Energy

  $623,953

  Parking / Income-Based Land

  $241,475

  Restaurant / Food Service

  $312,420

  Healthcare / Senior Housing

  $754,544

Location Insight

City

Cleveland

County

Cuyahoga

State

Ohio

Latitude

41.5656

Longitude

-81.5759

CBSA code

17460

CBSA name

CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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