Property Description

This beautifully updated and rare brick 4-unit multifamily property is located on the historic Lake Avenue between Clifton blvd and Detroit Ave, in one of Cleveland's most desirable and rapidly appreciating neighborhoods. Just one block from 78th Street Studios and minutes from Edgewater Beach, Gordon Square, Ohio City, Tremont and downtown, this location offers unbeatable proximity and tenant appeal. Four 1-bedroom, 1-bathroom units feature a mix of refinished hardwood floors, high ceilings, updated bathrooms, stainless steel appliances, separate climate control and separate washer/dryer in the basement for each unit. Recent major improvements include new windows (2023) and a new EPDM roof (2024), delivering immediate peace of mind and lower maintenance costs for the next owner. The property also boasts an upstairs private deck and a downstairs covered deck, plus ample basement storage. Investor Highlights: strong rental demand and the possibility to add additional bedrooms or convert space for increased income. Adjacent to three Land Bank lots with outstanding opportunity for expansion, additional parking, or new construction (buyer to verify). Solid bones, tasteful updates, and excellent curb appeal on a charming tree-lined street. This turnkey multi-family asset is perfectly positioned for both immediate cash flow and long-term appreciation in a high-demand area near parks, dining, arts, and entertainment. Whether you're looking for a solid income producer or a value-add project with upside, this Lake Avenue property checks every box.

Property Features

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