4
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$375,000
Est. payment /mo
5,601 Sqft Lot
Active
3715 E 61st ST Cleveland, OH 44105
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Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Hubbard Cook
MLS Listing ID 5157719
HOA Y/N No
Year Built 1900
Annual Tax Amount $4,426
Tax Year 2024
Lot Size 5,601 Sqft
Acres 0.1286
Property Sub-Type Apartment
Property Description
Building Highlights:
This is a 6-unit multifamily building located at 3715 E 61st St, Cleveland, OH 44105. The property includes three separate basements, each with washer and dryer hookups. Utilities are separately metered for gas and electric, with tenants responsible for both. The owner pays for water, sewer, and garbage. The building is registered with the City of Cleveland and has passed all required city inspections, including lead-safe and HVAC inspections.
Renovations & System Upgrades:
A new roof was installed in February 2025. All units have been recently updated with new flooring, fresh paint, and renovated bathrooms. The gas furnaces are certified and well-maintained. Three of the water heaters have been recently replaced. The electrical system has been modernized and is up to code. Appliances have been supplied by the owner in three units; tenants in the remaining three units provide their own.
Occupancy & Tenant Profile:
The property is fully occupied. Four of the six tenants are on Section 8, and all Section 8 units have recently passed inspection. All tenants have been screened, and the building is described as quiet and safe.
Investment Potential:
The property offers an immediate upside available by bringing two units up to market rent for an additional $325 per month in income. With full occupancy, recent upgrades, and no deferred maintenance noted, this is a stable asset requiring no immediate capital improvements. The building has passed all city, HVAC, and Section 8 inspections, making this a truly turnkey opportunity for an investor seeking reliable cash flow and minimal management headaches.
NOI: $33,490
This is a 6-unit multifamily building located at 3715 E 61st St, Cleveland, OH 44105. The property includes three separate basements, each with washer and dryer hookups. Utilities are separately metered for gas and electric, with tenants responsible for both. The owner pays for water, sewer, and garbage. The building is registered with the City of Cleveland and has passed all required city inspections, including lead-safe and HVAC inspections.
Renovations & System Upgrades:
A new roof was installed in February 2025. All units have been recently updated with new flooring, fresh paint, and renovated bathrooms. The gas furnaces are certified and well-maintained. Three of the water heaters have been recently replaced. The electrical system has been modernized and is up to code. Appliances have been supplied by the owner in three units; tenants in the remaining three units provide their own.
Occupancy & Tenant Profile:
The property is fully occupied. Four of the six tenants are on Section 8, and all Section 8 units have recently passed inspection. All tenants have been screened, and the building is described as quiet and safe.
Investment Potential:
The property offers an immediate upside available by bringing two units up to market rent for an additional $325 per month in income. With full occupancy, recent upgrades, and no deferred maintenance noted, this is a stable asset requiring no immediate capital improvements. The building has passed all city, HVAC, and Section 8 inspections, making this a truly turnkey opportunity for an investor seeking reliable cash flow and minimal management headaches.
NOI: $33,490
Location
State OH
County Cuyahoga
Interior
Heating Hot Water, Steam
Fireplace No
Exterior
Water Access Desc Public
Roof Type See Remarks
Present Use Multi-Family
Building
Foundation Basement
Sewer Public Sewer
Water Public
Schools
School District East Cleveland Csd - 1812
Others
Tax ID 132-08-154
Listed by Karen Towner • Howard Hanna • johndesantilli@hannacre.com, 216-877-6056
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