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$415,000

For Sale - Active
1335 West Blvd, Cleveland, OH 44102
6 Beds
4 Baths
3,400 Square Feet
0.00 Acres Lot
Built in 1910
For Sale - Active
3 Units
Checked: 14 hours ago
Updated: Jun 13, 2025 at 03:21AM

Investment Summary


Monthly Cash Flow
-$1,463
Cap Rate
1.4%
Cash-on-Cash Return
-18.4%
Debt Coverage Ratio
0.26
Internal Rate of Return (5 years)
-13.8%

Property Description


0.00 Acres Lot
Built in 1910
For Sale - Active
3 Units

Fantastic opportunity to own this stunning and fully updated 3-family home, ideally located within walking distance to Edgewater Park and just 5 minutes from Lakewood, Ohio City, Downtown Cleveland, and major highway access. Whether you're looking for a turn-key Airbnb, a house-hack opportunity, or a solid investment property, this home offers flexibility and strong rental potential. Previously generating $4,250/month in rent, this fully turn-key property is ready to go. The first-floor unit is currently vacant—perfect for an owner-occupant or immediate rental—and features 3 bedrooms and 2 full bathrooms, including a private primary suite. The second-floor unit offers 2 spacious bedrooms with a bonus room, a full bath, and generous sized living and dining rooms. The third-floor unit includes 1 bedroom, a full bath, an eat-in kitchen, and a cozy living room. Each unit has been thoughtfully updated and features bright, comfortable living spaces, modern finishes, and updated kitchens with white shaker cabinets, quartz countertops, and stainless steel appliances. Recent improvements include: New roof (2023), Updated electrical system (2023), new flooring, vinyl windows, updated bathrooms in all units, new light fixtures throughout, and freshly painted exterior and interior. Additional highlights include a 2-car garage, plenty of off street parking, and a fenced-in yard. Don't miss your chance to own a move-in ready, income-producing property in one of Cleveland’s most convenient locations. Schedule your private showing today!

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Location


Property Details


Parking

  • Description: Detached, Garage
  • Details: Detached, Garage, Paved
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 6

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 14
  • # of Stories: 3
  • Basement: Yes
  • Basement Description: Full
  • Fireplace: Yes

Exterior Features

  • Roof Type: Gable
  • Roof Material: Asphalt, Fiberglass

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 00113038
  • Lot Size: 0 sqft

Property Information

  • Property Type: Triplex
  • Year Built: 1910

Tax Information

  • Annual Tax: $8,893

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Central Air

Location

  • County: Cuyahoga

Listing Details


Listed by:
Corey Zucker
Keller Williams Citywide
(440) 463-5253

Source:
MLS Now
MLS#: 5119484
MLS Now

Investment Summary


Monthly Cash Flow
-$1,463
Cap Rate
1.4%
Cash-on-Cash Return
-18.4%
Debt Coverage Ratio
0.26
Internal Rate of Return (5 years)
-13.8%

Purchase Details

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Purchase price:
$415,000
Amount financed:
-$332,000
Down payment:
$83,000
Closing costs:
$12,450
Rehab costs:
$0
Initial cash invested:
$95,450
Square feet:
3,400
Cost per square foot:
$122
Monthly rent per square foot:
$0.53

Financing Details

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Loan amount:
$332,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,964
Property tax:
$741
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,831

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (41%)
41%-$741-$8,893
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (66%)
66%-$1,191-$14,293

Cash Flow


Monthly Yearly
Net operating income:
$501 $6,012
Mortgage payments:
-$1,964 -$23,568
Cash flow:
$1,463 $17,556