Property Description

Turnkey Legal Triplex in Cleveland Heights Excellent investment opportunity with immediate cash flow and cap rate. This well-maintained legal triplex features 3 units each with 2 bedrooms, 1 bath. 2 rooms are occupied and 1 is move-in-ready available for tenant or owner occupancy. Current rents: Unit 1: $1,300/month (occupied) 1680 sq ft, 2 bedroom, +bonus room, 1 bath, lease until 6/30/27 Unit 2: $1,275/month (occupied) 1680sq ft, 2 bedroom +bonus room, 1 bath, lease until 3/31/27 Unit 3: $975/month (listed) 840 sq ft, 2 bedrooms, 1 bath Total full rent: $3,550 Recent Updates: new flooring on 2nd unit, new hallway stairs, a full electrical rewire completed in 2023, windows repaired/repainted, basement painted, new water heater, new 3rd floor heaters. Property previously passed owner inspection in 2023 (including redone garage floor and garage wall). Lead certification nearly complete (paint scraped, repainted, currently waiting on lab results). POS inspection pending. Location: near Case Western Reserve University, University Circle hospitals, Coventry Village, and Little Italy, making it highly attractive to students and healthcare professionals.

Property Features

Local Schools