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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.

Agent Description

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

2 stories
4 full
1927

Monthly Cost Estimate

$1,813/mo

20% down · 6.5% · 30 years

Principal$245
Interest$1,469
Insurance$99

Estimates only. Actual payments may vary.

Location

3738 W 137th Street

Cleveland, OH 44111

Fairwdhts

Features & Amenities

Exterior Features

Balcony

Property Details

Construction

Brick Block

Parking

Off Street

Heating

Forced Air

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.

JM

James P Matheos

Agent at Keller Williams Citywide

(440) 847-9033

Listed by Keller Williams Citywide · View on Broker Site

MLS# 5202364· Source: listhub· Updated 4 days ago

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3738 W 137th Street, Cleveland, OH 44111

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