USAOHClevelandUnion-Rice3611 E 116Th Street

3611 E 116Th St, Cleveland, OH

Name: 3611 E 116Th St, For Sale in Cleveland - Zoocasa
Brand: Home Equity Realty Group
SKU: 5246465
Price: 175500 USD

House

For Sale

Listed price in listed location currency (USD).

$175,500

620

MLS® 5246465

Overview

Key Facts

Type Duplex

Levels Residential Income

Size -

Garage

Taxes $578

Days Active 1

Lot Size 0.1004 Acres

Approx. Age 1900

MLS® Number 5246465

Property Address: 3611 E 116th Street, Cleveland, OH, 44105

Average square foot calculated using Size range provided by listing agent.

Description

Strong turnkey investment opportunity at 3611 E 116th Street in Cleveland. This duplex features two 3-bedroom, 1-bath units and is being delivered vacant and rent ready, allowing the next owner to immediately lease the property at current market rents. The property is underwritten at $2, 740 per month in combined HUD Fair Market Rent, offering strong income potential with an estimated 12.22% cap rate. The property is Lead Safe Certified and has already received significant improvements, helping reduce near-term deferred maintenance and providing a more streamlined ownership experience. Additional value-add potential exists in the upper unit, where a full walk-up third-floor attic with a permanent staircase creates an opportunity to potentially convert the unit from a 3-bedroom to a 4-bedroom layout, allowing an investor to pursue a higher HUD rental tier without expanding the building footprint. Located in Cleveland's 44105 ZIP code, the property offers convenient access to I-77, I-490, the Opportunity Corridor, University Circle, Cleveland Clinic, shopping, public transportation, and other major employment and amenity centers. This property is also available as part of an attractive four-duplex, eight-unit Cleveland investment portfolio offered at $702, 000. The portfolio includes 15332 Welton Dr, 3611 E 116th St, 9223 Adams Ave, and 10906 Nelson Ave, with more than $120, 000 in capital improvements completed across the portfolio, including a combination of roofs, furnaces, hot water tanks, Lead Safe certifications, plumbing and sewer work, porches, gutters, windows, cabinets, appliances, and interior improvements. For investors looking to expand their Cleveland rental portfolio, 3611 E 116th offers a compelling combination of turnkey condition, strong projected rental income, Lead Safe certification, and additional value-add potential, while the full portfolio provides the opportunity to acquire eight units at scale.

MLS® Number5246465

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1900

Basement

DrivewayDirect Access, Driveway

Garage Spaces

HeatForced Air

A/CNone

Extras

Map

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