1156 Carl Ave - Apartments FOR SALE


Cleveland, OH 44103- St Clair-Superior
$370,000 USD
216-318-7259
1156 Carl Ave, Cleveland, OH for Sale
$370,000 USD
Apartments - FOR SALE
1/38
null | Request Cap Rate

1156 Carl Ave
Cleveland, OH 44103
St Clair-Superior


HIGHLIGHTS

  • Major renovations completed, including new roof (2025) with 15-year warranty.
  • Two units already rented at $1,150/month; remaining units vacant and ready for lease-up.
  • Updated systems throughout: new electrical panels, PVC plumbing, newer furnaces, and vinyl windows.

OVERVIEW

This updated 6-unit apartment building offers strong cash flow potential with major improvements already completed. Formal financials are not available, as the property was under renovation for most of the time the current owner has held it. The roof was replaced in 2025 and comes with a 15-year warranty. Each unit features refinished hardwood and luxury vinyl plank flooring, fresh paint, updated kitchens, and several bathroom upgrades. Every unit also includes a private porch, adding to tenant appeal. Building systems have been modernized with new GE electrical panels and wiring in each unit, a new exterior electric meter bank, updated PVC plumbing, newer furnaces, and several newer hot water tanks. Vinyl windows are installed throughout. Currently, Unit 1 & 2 are rented at $1,150/month each, with the remaining units vacant and ready for lease-up. The seller is also willing to assist in filling additional units. This property is a turnkey opportunity for investors seeking immediate income with long-term upside.

FOR SALE DETAILS

PRICE

$370,000 USD

PRICE/SF

$77 USD /SF

# OF UNITS

6

PRICE/UNIT

$61,667

CAP RATE

Request Cap Rate

% LEASED

33%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1917

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,418 SF

ZONING

2F

APN/PARCEL ID

105-21-035

ASK ABOUT THIS PROPERTY

Peter KrusinskiRE/MAX TrinityMore Info
216-318-7259

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Peter KrusinskiRE/MAX TrinityMore Info
216-318-7259

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.