Property
Beds
9
Full Baths
3
1/2 Baths
None
Year Built
1920
Sq.Footage
3,768
Triplex investment opportunity in the heart of Cleveland Heights! Located at 3371 Beechwood Avenue, this recently renovated multi-family property offers immediate income with additional upside for savvy investors. Currently 2/3 occupied with long-term tenants, the property provides stable cash flow from day one, with the opportunity to increase returns. The fully renovated first-floor unit is vacant and actively marketed at $1,400/month, positioning the asset to generate over $3,000/month once fully leased. This opportunity is projected at an attractive **~7.6% pro forma cap rate** at a $270K purchase price, offering a compelling blend of in-place income and lease-up potential. Extensive recent updates reduce maintenance concerns and enhance tenant appeal, including freshly painted interiors, new carpeting, updated kitchen countertops, a newer section of the roof, brand-new HVAC systems, and updated plumbing throughout. Cleveland Heights is a proven rental market known for strong tenant demand, historic charm, and proximity to major employers, universities, and healthcare institutions. Its walkable neighborhoods and enduring appeal continue to support stable occupancy and long-term appreciation, making it one of Greater Cleveland’s most reliable submarkets for multi-family investment. Whether expanding a portfolio or entering the market, this property offers the ideal mix of cash flow, value-add potential, and long-term growth. Don’t miss the opportunity to secure a high-performing asset in one of Northeast Ohio’s most established investment corridors.
Features & Amenities
Interior
-
Total Bedrooms
9
-
Bathrooms
3
-
Above Grade Finished Area
3768.0
-
Basement YN
YES
-
Cooling YN
YES
-
Cooling
Other
-
Heating YN
YES
-
Heating
Natural Gas, Forced Air
-
Pet friendly
N/A
Exterior
-
Garage
Yes
-
Garage spaces
3
-
Construction Materials
Vinyl Siding
-
Parking
Paved
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.155
-
Property Type
Residential Income
-
Property Sub Type
Triplex
Price
-
Sales Price
$270,000
-
Tax Amount
$6,260
-
Sq. Footage
3, 768
-
Price/SqFt
$71
HOA
-
Association
No
School District
-
Elementary School
Cleveland Hts-Univer - 1810
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
3
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
Cuyahoga
Elementary School
Cleveland Hts-Univer - 1810
Middle School
High School
Listing Courtesy of Alex V Johnson , Real Estate Quest, Inc.
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AGENT
Keith Vanke
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