3371 Beechwood AVE Cleveland Heights, OH 44118
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Pending
Purchase Type For Sale
Square Footage 3,768 sqft
Price per Sqft $71
Subdivision Minor Heights
MLS Listing ID 5194790
Bedrooms 9
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 3,768
Year Built 1920
Annual Tax Amount $6,260
Tax Year 2025
Lot Size 6,751 Sqft
Acres 0.155
Property Sub-Type Triplex
Stories Three Or More
Story Three Or More
Property Description
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.
Location
State OH
County Cuyahoga
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air, Gas
Cooling Other
Fireplace No
Laundry Common Area
Exterior
Parking Features Paved
Garage Spaces 3.0
Garage Description 3.0
Fence Chain Link
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Story 3
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Schools
School District Cleveland Hts-Univer - 1810
Others
Tax ID 684-28-016
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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