Slavic Village, Cleveland Investment Potential

7 Replies

Hi BP,

I am considering purchasing a multi-unit in the Slavic Village area of Cleveland and was wondering if anyone has any experience in that area.  What do you think of this location?  Thanks!

Tanner

Several posts on the same question have been made and you'll be able to find your answers. Just use the search feature. 

Originally posted by @David Lauka :

Hi BP,

I am considering purchasing a multi-unit in the Slavic Village area of Cleveland and was wondering if anyone has any experience in that area.  What do you think of this location?  Thanks!

Tanner

 Um, it was actually one of the hardest hit areas of the 2008 crisis. It is coming back, but it kind of still has a lot of growing to do.

@David Lauka

There's been some buzz about revitalization efforts there. My opinion is that there's as low end areas go in the Cleveland area, there are others that would be preferable.

Originally posted by @David Lauka :

Hi BP,

I am considering purchasing a multi-unit in the Slavic Village area of Cleveland and was wondering if anyone has any experience in that area.  What do you think of this location?  Thanks!

Tanner

 Slavic Village is a rough neighborhood. I don't invest there it's just to beat to hell for me. I recommend checking out The Ultimate Guide to Grading Cleveland Neighborhoods to familiarize yourself with the Cleveland area.

I always recommend out of state investors look towards the higher end asserts. Slavic Village is at the very bottom. Your profile says you are from Michigan why the interest in the Cleveland area? Prices are similar in the Michigan market, no?

Thanks @James Wise I appreciate the response.  There just isn't any inventory in my local market (Kalamazoo) and Grand Rapids, the other major market in West Michigan, is way over priced.  I would say the cap rate is slightly better in Cleveland and much more properties to choose from.  Any good deal in my area has 4 offers the day it was listed. 

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