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About This Home
This 6-bedroom, 4-bathroom residential multi family at 3738 W 137th Street in Cleveland, OH is listed for $339,000 ($41 per sqft). Built in 1927, the home offers 8,288 sqft of living space on a 0.11 acres lot.
ATTENTION VALUE-ADD INVESTORS: 30-YEAR LEGACY PROPERTY WITH MASSIVE UPSIDE! Unlock incredible equity in this rock-solid, all-brick 4-plex located in a high-demand rental pocket of Cleveland. Held by the same owner for over 30 years, this property is the definition of a "diamond in the rough." While the building requires some TLC and shows deferred
maintenance (condition is slightly below average), the structural integrity of this all-brick 1927 build is a major selling point that is hard to find in today's market. WHY THIS IS THE DEAL OF THE YEAR: * Massive Rent Spread: Rents are currently significantly below market value.
With professional management and cosmetic updates, there is a clear path to double the current NOI. * Solid Infrastructure: A "forever" building with 2) 2-bed/1-bath and 2) 1-bed/1-bath units. It features separate gas/electric meters, newer water tanks, and a sturdy brick exterior.
* In-Demand Amenities: Includes 2 off-street parking spaces and basement washer/dryer hookups-essential features that drive 0% vacancy. * Priced for the Spread: Strategically priced to account for maintenance needs, allowing the next owner to capture the appreciation gap as the property is brought to "Market Gold" standard.
* Financials: Currently performing at a 6.3% Cap Rate even with below-market rents. Projections show a total equity accumulation of over $117k within Year 1 following stabilization. Bring your contractor and your vision-this is a "set it and forget it" asset once the initial work is done. Priced to Sell AS-IS no retrade. Can show 1 vacant unit - Don't miss this one!
Key Features
- Built in 1927
- 0.11 acre lot
- 2 stories
Property Details
Monthly Cost Estimate
$1,813/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
3738 W 137th Street
Cleveland, OH 44111
Fairwdhts
Features & Amenities
Exterior Features
Property Details
Construction
Parking
Heating
Questions & Answers
This 6-bedroom, 4-bathroom residential multi family at 3738 W 137th Street is listed at $339,000 ($41/sqft). The estimated monthly payment is $1,469 based on 20% down at 6.5% interest.
Key features include: Built in 1927, 0.11 acre lot, 2 stories. Exterior Features: Balcony.
This property is listed by James P Matheos and can be reached at 4408479033 or JMatheos@Gmail.com.




























