Features & Amenities

Interior

  • Total Bedrooms

    6

  • Bathrooms

    4

  • Above Grade Finished Area

    6216.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    None

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Brick, Block

  • Other Exterior Features

    Balcony

  • Parking

    Off Street

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.1102

  • Property Type

    Residential Income

  • Property Sub Type

    Quadruplex

Price

  • Sales Price

    $339,000

  • Tax Amount

    $6,620

  • Sq. Footage

    8, 288

  • Price/SqFt

    $40

HOA

  • Association

    No

School District

  • Elementary School

    Cleveland Municipal - 1809

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Cuyahoga

Elementary School

Cleveland Municipal - 1809

Middle School

High School

Listing Courtesy of James P Matheos , Keller Williams Citywide

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Carla Ponikvar

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ATTENTION VALUE-ADD INVESTORS: 30-YEAR LEGACY PROPERTY WITH MASSIVE UPSIDE!
Unlock incredible equity in this rock-solid, all-brick 4-plex located in a high-demand rental pocket of Cleveland. Held by the same owner for over 30 years, this property is the definition of a "diamond in the rough." While the building requires some TLC and shows deferred maintenance (condition is slightly below average), the structural integrity of this all-brick 1927 build is a major selling point that is hard to find in today's market.

WHY THIS IS THE DEAL OF THE YEAR:
* Massive Rent Spread: Rents are currently significantly below market value. With professional management and cosmetic updates, there is a clear path to double the current NOI.
* Solid Infrastructure: A "forever" building with 2) 2-bed/1-bath and 2) 1-bed/1-bath units. It features separate gas/electric meters, newer water tanks, and a sturdy brick exterior.
* In-Demand Amenities: Includes 2 off-street parking spaces and basement washer/dryer hookups—essential features that drive 0% vacancy.
* Priced for the Spread: Strategically priced to account for maintenance needs, allowing the next owner to capture the appreciation gap as the property is brought to "Market Gold" standard.
* Financials: Currently performing at a 6.3% Cap Rate even with below-market rents. Projections show a total equity accumulation of over $117k within Year 1 following stabilization.
Bring your contractor and your vision—this is a "set it and forget it" asset once the initial work is done. 
Priced to Sell AS-IS no retrade.

Can show 1 vacant unit - Don't miss this one!

3738 W 137th Street

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