3334 W 82nd St

3334 W 82nd St, Cleveland, OH 44102 | 4-Unit on CLE's West Side

3334 W 82nd St, Cleveland, OH 44102 - Russell Commercial Advisory
Tal Tamir  - Russell Commercial Advisory

Tal Tamir

3334 W 82nd St

$199,000

3334 W 82nd St, Cleveland, OH 44102 | 4-Unit on CLE's West Side

Incredible opportunity to purchase a four-unit property on the highly sought-after west side of Cleveland! This value-add investment features two two-bedroom, one-bath units (both currently occupied at $550 and $650/month on month-to-month leases), a one-bedroom, one-bath attic unit, and a two-bedroom, one-bath basement unit with a full kitchen and bathroom. Projected market rents are $1,000/month for the two-bedroom units, $800/month for the one-bedroom attic and $850 per month for the basement, bringing the total projected gross annual income to $43,800. Cleveland’s rental market remains strong, driven by steady demand, affordable pricing, and reliable cash flow—making this an excellent market for investors. The property has three gas meters and three electric meters; the owner currently pays utilities for the basement unit. The City of Cleveland Lead Inspection is in process for renewal, with no anticipated issues, giving new ownership a clear path to lead-free certification at closing. A rare chance to secure an easy-to-manage multifamily asset with strong upside in a growing market!

Investment highlights:

4-Unit Multi | Perfect for value-add investors

Significant upside from under-market rents

Projected gross annual income - $43,800

Located on Cleveland’s sought-after west side, a proven rental market with steady demand and reliable cash flow

Separate gas & electric meters for three units—owner only pays utilities for basement unit

Month-to-month leases in two of the units allow flexibility for rent increases or renovations to quickly align with market-rate returns.

Property Facts:

Property Type Multifamily

Sub Type Single Family Rental Portfolio

Square Footage 1,950

Units 4

Occupancy 50%

Pro-Forma Cap Rate 12.51%

Pro-Forma NOI $24,900

Broker Co-Op Yes

Class B

Year Built 1910

Buildings 1

Acreage 0.105

Investment Type Stabilized

Ground Lease No

 
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