39
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$175,000
Est. payment /mo
5 Beds
3 Baths
2,802 SqFt
New
8311 Decker AVE Cleveland, OH 44103
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,802 sqft
Price per Sqft $62
Subdivision L M Southerns Wade Park Ave
MLS Listing ID 5242656
Bedrooms 5
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 2,802
Year Built 1900
Annual Tax Amount $1,370
Tax Year 2025
Lot Size 4,081 Sqft
Acres 0.0937
Property Sub-Type Triplex
Stories Three Or More
Story Three Or More
Property Description
Excellent investment opportunity at 8311 Decker Ave! This triplex offers a desirable combination of established rental income, tenant stability, and additional income potential.
The first-floor unit is currently vacant, allowing the next owner to immediately place a tenant at current market rents. CMHA rental rates in the 44103 ZIP code can reach as high as $1,209, providing an opportunity to further increase the property's gross monthly income.
Unit 2 features 2 bedrooms and 1 bathroom and is occupied by a cash-paying tenant at $750 per month, with a lease through 5/1/2027. Unit 3 features 1 bedroom and 1 bathroom and is occupied by a cash-paying tenant at $600 per month, with a lease through 12/1/2026.
The property also features furnaces and hot water tanks that are approximately five years old or newer, adding to the property's overall appeal as a largely stabilized multifamily investment.
With two occupied units already generating income and a vacant unit ready for lease-up, this property offers investors a strong foundation of existing cash flow with built-in rental upside. The current lease structure provides stability in the near term while giving the next owner opportunities to increase revenue as leases turn over and rents are brought closer to market.
Conveniently located near Cleveland Clinic, Downtown Cleveland, major employment centers, shopping, dining, and public transportation, with easy access to nearby highways and destinations throughout Northeast Ohio.
A great opportunity for an investor looking to acquire a largely stabilized multifamily property with existing income and room for future growth.
The first-floor unit is currently vacant, allowing the next owner to immediately place a tenant at current market rents. CMHA rental rates in the 44103 ZIP code can reach as high as $1,209, providing an opportunity to further increase the property's gross monthly income.
Unit 2 features 2 bedrooms and 1 bathroom and is occupied by a cash-paying tenant at $750 per month, with a lease through 5/1/2027. Unit 3 features 1 bedroom and 1 bathroom and is occupied by a cash-paying tenant at $600 per month, with a lease through 12/1/2026.
The property also features furnaces and hot water tanks that are approximately five years old or newer, adding to the property's overall appeal as a largely stabilized multifamily investment.
With two occupied units already generating income and a vacant unit ready for lease-up, this property offers investors a strong foundation of existing cash flow with built-in rental upside. The current lease structure provides stability in the near term while giving the next owner opportunities to increase revenue as leases turn over and rents are brought closer to market.
Conveniently located near Cleveland Clinic, Downtown Cleveland, major employment centers, shopping, dining, and public transportation, with easy access to nearby highways and destinations throughout Northeast Ohio.
A great opportunity for an investor looking to acquire a largely stabilized multifamily property with existing income and room for future growth.
Location
State OH
County Cuyahoga
Rooms
Basement Full
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Exterior
Parking Features On Street
Water Access Desc Public
Roof Type Slate
Private Pool No
Building
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 106-07-130
Listed by Keyano Burgess • Lokal Real Estate, LLC. • 216-252-6580, marketing@lokalrealestate.com
NEARBY SCHOOL & BUSINESS
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