2744 Mayfield Rd - Apartments FOR SALE


Cleveland, OH 44106
$650,000 USD
732-757-6393
2744 Mayfield Rd, Cleveland, OH for Sale
$650,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

2744 Mayfield Rd
Cleveland, OH 44106


OVERVIEW

This 12-unit multifamily property offers a strong value-add opportunity in a proven rental submarket with consistent demand for renovated units. The asset features an all 2-bedroom / 1-bath unit mix, a highly desirable layout that supports long-term tenant stability and broad renter appeal. The property is currently operating below its full income potential, presenting a clear path for investors to drive value through interior upgrades, operational improvements, and professional management. A phased renovation strategy allows for upside while maintaining occupancy and cash flow during the repositioning process. Located in a well-established Cleveland Heights rental corridor, the asset benefits from solid fundamentals, strong tenant demand, and favorable long-term market dynamics. Upon stabilization, the property supports increased cash flow and meaningful forced appreciation, making it an ideal acquisition for investors seeking both near-term upside and durable long-term performance.

FOR SALE DETAILS

PRICE

$650,000 USD

PRICE/SF

$39 USD /SF

# OF UNITS

12

PRICE/UNIT

$54,167

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,000 SF

ZONING

MF3

APN/PARCEL ID

685-10-005

ASK ABOUT THIS PROPERTY

Nikhil VishakantaWe InvestMore Info
732-757-6393

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Nikhil VishakantaWe InvestMore Info
732-757-6393

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