914-292-1081
4237 Rocky River Dr, Cleveland, OH for Sale
Apartments - FOR SALE
1/27
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4237 Rocky River Dr
Cleveland, OH 44135
Kamm's Corners


OVERVIEW

4237 Rocky River Drive, a 15-unit garden-style apartment building located in Cleveland, Ohio. This well-maintained asset offers investors a compelling value-add opportunity in a stable rental market. The property features 15 surface parking spaces and has undergone recent capital improvements, including a new roof installed in 2022, updated common hallways, and renovations in 6 of the 15 units. Current rents remain below market, allowing for immediate upside through unit upgrades and lease renewals. With its strong physical condition, on-site parking, and operational upside, 4237 Rocky River Drive is well-positioned for both cash flow and long-term appreciation. Neighborhood Overview – Situated on Cleveland's West Side, which encompasses neighborhoods such as Kamm’s Corners, Bellaire–Puritas, Jefferson, and Riverside. These areas feature a mix of residential and industrial zones, combining single-family homes with multifamily communities. The population of approximately 27,600 residents is diverse, with a demographic composition of 53% White, 21% Hispanic, 15% African American, and 4% Asian. The local economy benefits from the nearby industrial corridor, with significant employment centers along I-480 and major rail lines. The area also enjoys excellent transportation access via I-71 and I-480, along with numerous parks and recreational amenities, making it attractive for both renters and long-term investors.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

15

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,249 SF

ZONING

M-1

APN/PARCEL ID

027-09-003

ASK ABOUT THIS PROPERTY

David AlgarinThe Oak & Avery Group, LlcMore Info
914-292-1081

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David AlgarinThe Oak & Avery Group, LlcMore Info
914-292-1081

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