1780 E 89th St - Apartments FOR SALE


Cleveland, OH 44106- Hough
$250,000 USD
440-892-2211
1780 E 89th St, Cleveland, OH for Sale
$250,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

1780 E 89th St
Cleveland, OH 44106
Hough


HIGHLIGHTS

  • 8-unit building with fully approved plans and zoning variances for expansion into a 16-unit complex.
  • Situated on a double lot and positioned for high returns with tax incentives, low-interest loans, and historic tax credits
  • Located in the Medical Corridor in Cleveland, most recession-proof market

OVERVIEW

Market Overview Healthcare Corridor Strength The Cleveland Clinic and University Hospitals form one of the largest medical hubs in the world. These globally recognized institutions employ tens of thousands of healthcare professionals, attract patients internationally, and collaborate with Case Western Reserve University. The result: a steady, recession-resistant housing demand. Proven Stability This corridor has long been a magnet for medical staff, students, and patients’ families seeking both short- and long-term housing solutions. Unlike other markets, rental demand here is not tied to seasonal trends — it is fueled by consistent healthcare growth and research-driven expansion. Why This Market? This corridor offers a unique blend of stability, demand, and growth unmatched in other Cleveland neighborhoods. Investing in a multi-unit residential property here means positioning capital in a market where: Demand is constant Tenant quality is high Returns are reliable Simply put:  The medical corridor is Cleveland’s most recession-proof rental market Demand Drivers Cleveland Clinic Main Campus Ranked among the top hospitals worldwide Over 22,000 employees at this location alone Constant need for housing close to campus University Hospitals Premier academic medical center with thousands of medical students, residents, and faculty Strong base of long-term renters seeking proximity Case Western Reserve University Over 12,000 students and faculty located within walking distance of medical campuses Graduate and international students create a continuous pool of qualified tenants Supporting Amenities Cleveland Museum of Art, Severance Hall, Botanical Gardens, and cultural district nearby Dining, entertainment, and retail all within reach — attractive to young professionals Multifamily property in Cleveland’s emerging East 89th corridor 8-unit brick building with permit-ready expansion to 16 units Zoning: MF-C / MF-E with variances approved Acquisition Options: Option A: Purchase existing 8-unit structure Sale Price: $250,000 Option B: Purchase 8-unit building plus plans and entitlements to expand to 16 units Sale Price: $350,000

FOR SALE DETAILS

PRICE

$250,000 USD

PRICE/SF

$23 USD /SF

# OF UNITS

8

PRICE/UNIT

$31,250

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

C

APN/PARCEL ID

119-05-029,119-05-030

ASK ABOUT THIS PROPERTY

Cielo McClainKeller Williams CitywideMore Info
440-892-2211

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Cielo McClainKeller Williams CitywideMore Info
440-892-2211

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