3250 E 49th Street, Cleveland, OH

Multi-family for Sale - $595,000 - 4,618 Sq. Ft.


Agent Info

Mark Miller
CENTURY 21 Carolyn Riley Realty

Property Info

CIMLS#1172620
Location
  3250 E 49th Street
  Cleveland OH 44127
UpdatedMarch 9th, 2025
TypeMulti-family
Price$595,000
Building4,618 Sq. Ft.

Property Description

Prime Investment Opportunity – 12-Unit Brick Apartment Building in Historic Slavic Village, Cleveland. Seize this exceptional investment opportunity in this solid three-story, all-brick 12-unit apartment building features (10) one-bedroom and (2) two-bedroom apartments in historic Slavic Village, Cleveland. 10 of 12 units have been renovated within the last 18 months. Seller purchased, vacated the majority of the building, completing approximately $200k in repairs, turns and updates in 2023 & 2024 and is ready to hand it to it's new owner. Current ownership engaged professional management services, helping to stabilize the building. Management co is happy to continue. The building is compliant with City of Cleveland requirements in rental registration and lead safety. Location is ideal - minutes from Downtown Cleveland, with easy access to public transportation, nearby other affordable housing opportunities, and in close proximity to the Slavic Village Redevelopment project. Both on and off street parking options are available. Tenants pay electric, owner pays water/sewer/trash/gas/common areas electric. With a strong rental demand and a professionally managed operation, this property is positioned for long-term cash flow and appreciation.


Financials



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