$2,150,000
Under contractAbout this home
24-unit multifamily property consisting of three 8-unit brick apartment buildings offering immediate cash flow with significant upside. Current financials include 4 vacant units currently being renovated and prepared for lease-up or buyers may submit offers based on the property's current condition and complete the remaining work themselves. The portfolio consists entirely of 24 2-bedroom, 1-bath apartments with tenants paying gas and electric, individual furnaces for each unit. Owner-owned laundry with two washers and two dryers in each building, 29 garage spaces, 6 surface parking spaces, and slab foundations with no basements to maintain. Ownership has invested approximately $175,000 in recent capital improvements, including two new roofs, furnaces and hot water tank replacements, and extensive interior renovations. Current NOI is $161,453 with additional upside through lease-up, continued rent growth, and implementation of a utility reimbursement program projected to increase returns to an 11%+ pro forma cap rate. Located adjacent to the North and South Quarry green space and minutes from Cleveland Clinic, University Hospitals, shopping, dining, and Metroparks, this is an outstanding opportunity to acquire a well-maintained multifamily investment with strong in-place income and long-term appreciation potential. Seller is also selling 885 S green which can be sold together. Buyers interested in the entire portfolio could qualify for up to 15% Seller financing.
Property details
- MLS
- NOWDD
- MLS #
- 5239246
- Property type
- Apartment
- Subdivision
- South Euclid Prcl A-2
- Status
- Under contract
- Days on market
- 42
- On market date
- August 26, 2026
- Stories
- 3
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- 34
- Lot size
- 1.3054 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 242
- Student:teacher ratio
- 15.1:1
- District
- South Euclid-Lyndhurst City
- Enrollment
- 475
- Student:teacher ratio
- 18.3:1
- District
- South Euclid-Lyndhurst City
- Enrollment
- 1,090
- Student:teacher ratio
- 21.4:1
- District
- South Euclid-Lyndhurst City
Walkability
Blended score for South Euclid's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in South Euclid, from live MLS data.
Mortgage calculator
Estimate only - actual rate and payment depend on your lender, credit, and loan program.
Adjust tax / insurance estimates
Similar homes you might like
Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 18 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.