Next up and coming cleveland neighborhoods?

Question

I’m curious to see what other cleveland real estate investors think the next up and coming area on the west side of cleveland is?

Do you think old brooklyn or Brooklyn could transform into the next hot spot? With rentals in Lakewood/tremont/Ohio city getting more expensive to purchase and harder to rent. Geographically and with recent development improvements could this be the area young professionals look to move next?

Does buying rentals in lakewood or Tremont make much sense right now?

Jill F. · Answer

Lakewood still could make sense as a househack if you wanted to live there. I drove through Ohio City last week and parts of it are still pretty gritty so I bet there are still some deals to be had there. I don't invest there, I just have 3 kids that live in the greater Cleveland area.

@James Wise is an authority on the greater Cleveland market so he'd probably have a real good idea about up & coming areas. (I can't seem to get that @ thing to work).

Jason D. · Answer

@Nick Panetta @James Wise is all things Cleveland. If you need info on the city and surrounding neighborhoods, he's the brain you need to pick.

Joel Fine · Answer

I'm betting on Clark-Fulton near Metro Health. A $1B hospital renovation, tax advantages due to Opportunity Zone designation, and surrounded on 3 sides by Tremont, Ohio City, and Brooklyn...the area is a little raw now (C-?) but I think it's got potential.

I also like Brooklyn / Old Brooklyn.

I also like Brooklyn / Old Brooklyn.

Jack Abbott · Answer

Jag,  I recently sold a property in Clark-Fulton.  There can be good pricing found, but this neighborhood has quite a ways to go before I would consider buying there again.  i owned a SF near St Rocco for 5 years.  It ended up being a positive financially, but way more stress than my others in Cleveland.

Jag C. · Answer

Would love to know you thoughts on the Clark-Fulton area now - looking to invest in a MF on W 54th. Thank you.

@Joel Fine

@Mathew Nebel

@Jack Abbott

James Wise · Answer

Thanks for the shout out Jason. I am glad you find value in my content. Nick the 1st place I recommend you go to find information on the Cleveland market is The Ultimate Guide to Grading Cleveland Neighborhoods. Great amount of starter information there.

Daniel R. · Answer

Going further west into the suburbs, how about North Ridgeville?  With Rocky River/Bay Village prices really through the roof the past few years, and Avon slowly becoming the capital of the west side with all of the new development (Westlake already full), how does North Ridgeville look for further development?  People say the schools are a notch below the surrounding areas, but can that improve with more development and money coming into the city once Avon fills up?

Jack Abbott · Answer

I bought a real rough property near St Rocco about 5 years ago.  Needed quite a bit and the neighborhood is shaky.  Its taken some time but it is getting better and I saw that there is a big investment being made in the Clark-Fulton area.

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I also saw that an empty lot near my rental is being developed with new construction, and if someone is doing that, they must believe the area is able to turn around.

Best of luck to you all!

Mathew Nebel · Answer

@Nick Panetta metro health is investing millions into the surrounding neighborhood infrastructure. Just south of Ohio city. It's a rough area as of now, but it seems with so much growth all around it would be a decent investment.  Fulton rd is currently being completely rebuilt as well.

Next up and coming cleveland neighborhoods?

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