Opinions on Shaker and Garfield Heights for multifamily?

6 Replies | Cleveland, Ohio

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.

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

@Mike M.  

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 

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.

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

Originally posted by @Mike M. :

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.

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

 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.