287 E 156th St, Cleveland, OH 44110
287 E 156th
Cleveland, OH
Offering Summary
- Price: $399,000
- Address: 287 E 156th St
- City, State, Zip: Cleveland, OH 44110
- Units: 9
- Year Built: 1960
- Average Unit Size: +/- 680 SF
- Average In-Place Rent (/SF) $655 ($0.96/SF)
- Occupancy: 88.9%
Investment Highlights
∙ Owned and managed by out of state investors
∙ Located in the Waterloo Arts District, one of Cleveland’s most creative and revitalizing neighborhoods, known for its galleries, and live music venues
∙ Significant rent growth potential with in-place rents $100+ below comparable properties
∙ 66% of units updated with LVP flooring, new kitchen cabinetry, and new kitchen countertops, new bathroom vanities, new tub surrounds, and new hot water tanks
∙ All units have individual furnaces, hot water tanks, and through-wall air conditioning units
∙ Dedicated off-street parking for tenants
∙ One mile from Bratenahl one of Cleveland’s wealthiest communities - $159,250 average household income and $362,400 average home value
∙ Within 20 minutes of 5 of Northeast’s Ohio’s largest employers – including 3 Fortune 500 Companies
∙ Convenient access to major lakefront and neighborhood parks, including Lakefront Reservation, Humphrey Park, and Wildwood Park
Team
Michael Barron
Daniel Burkons
Joshua Wintermute
Charles Gagliano
William Koontz
Luke Hadley
Mitchell Coon
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