Opinions on Shaker and Garfield Heights for multifamily?

Question

I'm looking at two multi-families in areas of Cleveland that I'm less familiar with. I've done my research, but I'd like a second opinion on if I should stay away from these areas for reasons of crime, poor quality tenants or anything else.

• Shaker Heights (Buckey-Shaker) - South of Shaker Square on South Moreland Blvd. 
• Garfield Heights - North of Cleveland Clinic and the Garfield Park Reservation on East 104th st.

John Koster · Answer

Both have relatively hight taxes in the ball park of 4% of retail value and they both border some rougher neighborhoods.   Make sure you calculate the taxes properly for cash flow and study the surrounding areas carefully.

Federico Gutierrez · Answer

Shaker - NAY due to their POS. One of the Worst ones in Cleveland in my opinion.Garfield - YAY. POS still lame but no escrow

James Wise · Answer

Shaker is going to have a higher class of tenant than Garfield. Same deal with the rents, much higher in Shaker. Outside of that they are rather similar in that they both have very high taxes & strict POS inspection requirements. Shaker's got a lot more owner occupied residents so there is much more inventory to choose from in Garfield.

Dave DeMarco · Answer

@Mike Mepham I would would be VERY careful in the Shaker-Buckeye neighborhood. I owned a duplex there. High crime and not worth a long term investment IMO.

Michael Swan · Answer

I have over 100 front doors in NE Euclid and Lake County.  That's where I would suggest you invest.  I love how Lake County is SOOOOOO pro landlord and the rents you can get for the price that you pay is phenomenal.

Swanny

Justin Frank · Answer

@Mike Mepham

I wish I could help you with this mike. I would love to see people’s opinion on this. I am looking to invest in these areas as well. I hope you get some good answers and good luck

Opinions on Shaker and Garfield Heights for multifamily?

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