7413 Decker Ave - Apartments FOR SALE


Cleveland, OH 44103- Hough
$499,000 USD
440-552-5858
7413 Decker Ave, Cleveland, OH for Sale
$499,000 USD
Apartments - FOR SALE
1/11
null | 11.78% Cap Rate

7413 Decker Ave
Cleveland, OH 44103
Hough


HIGHLIGHTS

  • 11.78% Cap Rate: Priced at $499,000 with a current Net Operating Income of $58,761 and instant equity from two Spring 2026 appraisals ($500k/$515k)
  • Fully renovated in 2025 to new-construction standards with all-new plumbing, electrical, HVAC, and interior finishes
  • The property is 80% occupied, with 3 of the 4 active tenants backed by government-funded Section 8 vouchers for reliable monthly income.
  • Situated just 1.25 miles from the Cleveland Clinic Main Campus, 2 miles from University Circle, and 3 miles from Downtown.
  • Separate, tenant-paid gas and electric utilities; owner is only responsible for trash, water, and sewer services.
  • Seller Financing Available: Flexible interim purchase terms offered with 50% down, 6.0% interest (6.0% APR), and a 12-month balloon payment.

OVERVIEW

Green Bridge Real Estate is pleased to offer the Adriana Townhouses, a fully renovated and stabilized, five suite townhome style row building located at 7413-7421 Decker Avenue, Cleveland, Ohio 44103 Offered at $499,000, this property delivers an exceptional 11.78% Actual, Current, Capitalization Rate and a current Net Operating Income (NOI) of $58,761. Positioned below two Spring 2026 appraisals ($500,000 and $515,000), this asset provides immediate equity upon acquisition. Built as a classic two-story row townhouse on a 0.57-acre parcel, the 6,650 sq. ft. building was built in 1910 and extensively renovated in 2025. This project replaced all electrical, plumbing, heating systems, interior fixtures, and finishes—essentially creating a brand-new building inside the original frame and shell. The Adriana Townhouses consist of 5 Three Bedroom, One Bath 1,092 Sq.Ft. w/547 Sq.Ft. Basement area Units. Recently received 2 year Lead Safe Certificate. Ideal Stabilized Apartment Complex with very low management and maintenance. Each of the units feature new individually controlled forced air, gas fired furnaces and electric hot water heaters. Owner pays only trash, water & sewer. Tenant paid gas (heat) and electric. Currently 80% Occupied (4 of 5) with 3 of the 4 occupied units subsidized with “guaranteed” rent payments provided by Federal and State Funding for assistance to low income individuals under the Section 8 Voucher program. This arrangement provides a stable, consistent tenant base with “guaranteed” rent payments. Interim, First position Seller Financing is available to qualified purchasers with 50% down, 6.0% Interest (6.0% APR), 20 year amortization, balloon payment due in 12 months, monthly principal and interest payments with an additional real estate tax escrow. Perfectly positioned in the Hough neighborhood off Superior Avenue and Addison Road, 1.25 miles northwest of the Cleveland Clinic main campus, 2 miles from University Circle and 3 miles from Downtown Cleveland and offers the potential to operate as high-end housing for Cleveland Clinic employees or patients, possible condo conversion and/or a short term rental building such as AirBnB or equivalent.

FOR SALE DETAILS

PRICE

$499,000 USD

PRICE/SF

$75 USD /SF

# OF UNITS

5

PRICE/UNIT

$99,800

CAP RATE

11.78%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Adriana Townhomes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

5

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

2F

APN/PARCEL ID

106-04-060,106-04-102

ASK ABOUT THIS PROPERTY

Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

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Matthew KingGreen Bridge Real EstateMore Info
440-552-5858

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