$175,000
About this home
Excellent investment opportunity at 8311 Decker Ave! This triplex offers a desirable combination of established rental income, tenant stability, and additional income potential. The first-floor unit is currently vacant and recently renovated, allowing the next owner to immediately place a tenant at current market rents. CMHA rental rates in the 44103 ZIP code can reach as high as $1,209, providing an opportunity to further increase the property's gross monthly income. Unit 2 features 2 bedrooms and 1 bathroom and is occupied by a cash-paying tenant at $750 per month, with a lease through 5/1/2027. Unit 3 features 1 bedroom and 1 bathroom and is occupied by a cash-paying tenant at $600 per month, with a lease through 12/1/2026. The property also features furnaces and hot water tanks that are approximately five years old or newer, adding to the property's overall appeal as a largely stabilized multifamily investment. With two occupied units already generating income and a vacant unit ready for lease-up, this property offers investors a strong foundation of existing cash flow with built-in rental upside. The current lease structure provides stability in the near term while giving the next owner opportunities to increase revenue as leases turn over and rents are brought closer to market. Conveniently located near Cleveland Clinic, Downtown Cleveland, major employment centers, shopping, dining, and public transportation, with easy access to nearby highways and destinations throughout Northeast Ohio. A great opportunity for an investor looking to acquire a largely stabilized multifamily property with existing income and room for future growth.
Property details
- MLS
- NOWDD
- MLS #
- 5242656
- Property type
- Triplex
- Subdivision
- L M Southerns Wade Park Ave
- Status
- Active
- Days on market
- 28
- On market date
- September 4, 2026
- Stories
- N/A
- Total bathrooms
- 3
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.0937 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
- 287
- Student:teacher ratio
- 14.4:1
- District
- Cleveland Municipal
- Enrollment
- 581
- Student:teacher ratio
- 11.9:1
- District
- Cleveland Heights-University Heights City
- Enrollment
- 329
- Student:teacher ratio
- 11.8:1
- District
- Horizon Science Acad Cleveland
Walkability
Blended score for Cleveland'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 Cleveland, from live MLS data.
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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated 1 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.