Vision Sales Team

8415 Detroit Avenue

Cleveland, OH 44102

MLS#: 5228504

$249,900

Status: Active
Listing number: 5228504
Listing provided by: Berkshire Hathaway HomeServices Professional Realty
Listing agent phone: None
Last update: 19 days ago
On site: 20 days ago
Browse Properties
James F Rhodes Allotment - Residential Income

Property

Beds

8

Full Baths

4

1/2 Baths

None

Year Built

1910

Sq.Footage

2,219

Rare Detroit Shoreway value-add opportunity with immediate income and substantial upside. Public records identify the property as a duplex, while three units are currently registered with the City, fully occupied, and generating strong cash flow. The second- and third-floor units were renovated within the past three years, leaving a clear path to increased returns through remodeling the first-floor unit and separately metering gas and electric. The basement was previously occupied as a fourth unit but requires proper egress. Ownership obtained pricing below $5,000 for an egress window, creating the potential to complete this and pursue registration of an additional unit, subject to City approval. Projections show an 11.41% cash return after planned improvements. Ideally located near Gordon Square, Edgewater, Lakewood, dining, entertainment, and major commuter routes. Ownership is simply reallocating capital and passing on the potential as an exceptional opportunity for the next investor to capture the upside.

Features & Amenities

Interior

  • Total Bedrooms

    8

  • Bathrooms

    4

  • Above Grade Finished Area

    2219.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    None

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    2

  • Construction Materials

    Vinyl Siding

  • Parking

    Driveway, Detached, Garage, Unpaved

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.142

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

Price

  • Sales Price

    $249,900

  • Tax Amount

    $5,245.08

  • Sq. Footage

    2,219

  • Price/SqFt

    $112

HOA

  • Association

    No

School District

  • Elementary School

    Cleveland Municipal - 1809

  • Middle School

    Cleveland Municipal - 1809

  • High School

    Cleveland Municipal - 1809

Property Features

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Cuyahoga

Elementary School

Cleveland Municipal - 1809

Middle School

Cleveland Municipal - 1809

High School

Cleveland Municipal - 1809

Listing Courtesy of Seth B Task , Berkshire Hathaway HomeServices Professional Realty

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Agent Carla Ponikvar

Agent / Realtor®

Carla Ponikvar

Call Carla today to schedule a private showing.

(330) 760-3338

CarlaP@visionsalesteam.com


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Rare Detroit Shoreway value-add opportunity with immediate income and substantial upside. Public records identify the property as a duplex, while three units are currently registered with the City, fully occupied, and generating strong cash flow. The second- and third-floor units were renovated within the past three years, leaving a clear path to increased returns through remodeling the first-floor unit and separately metering gas and electric. The basement was previously occupied as a fourth unit but requires proper egress. Ownership obtained pricing below $5,000 for an egress window, creating the potential to complete this and pursue registration of an additional unit, subject to City approval. Projections show an 11.41% cash return after planned improvements. Ideally located near Gordon Square, Edgewater, Lakewood, dining, entertainment, and major commuter routes. Ownership is simply reallocating capital and passing on the potential as an exceptional opportunity for the next investor to capture the upside.

8415 Detroit Avenue

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