3281 E 118th StreetCleveland, OH 44120

Property Description

INVESTOR ALERT: Potential Cash-flow powerhouse-Rarely does an asset this stabilized hit the market with these numbers. This renovated 8-Bedroom Triplex in the Buckeye/Shaker neighborhood is a Cash-flow Powerhouse, delivering an incredible 2.99% Monthly Return Potential?Nearly Triple the Traditional 1% rule. Based on 2026 CMHA standards ($1,762.00 for 3-BRs, $1,367.00 for 2-BRs), plus $200.00 for the 2-car garage, this property has a potential projected monthly income of $5,091.00. Every unit has been thoughtfully updated from top to bottom over the last 2 years with fresh paint, flooring, and updated kitchens/baths. Major capital improvements provide ultimate peace of mind: Newer Furnaces (2024), Newer Hot Water Tanks (2024), Newer grounded electrical outlets, and updated plumbing including main stacks and City-replaced main sewer/water lines. The exterior features a roof~ Approx: 2016, vinyl windows (1st/3rd floors), and a waterproofed basement. The first and second floors offer identical 3-BR layouts with large dining and living rooms, built-ins, and porches, while the third floor features a contemporary 2-BR layout. Located in a vibrant, growing area within walking distance to groceries and dining, and minutes from the Cleveland Clinic, University Hospital, Case Western, and Shaker Square. Over 2,400 sq/ft of high-performance living space with separate entrances and basement storage. Lead risk assessment is in process; buyers to assume any requirements to meet Cleveland's Lead Safe standards. Whether you are a first-time investor looking to house-hack or a seasoned pro seeking a high-yield asset, this property delivers exceptional value and long-term performance. Secure this stabilized, high-velocity income stream today! Selling 'as is. Call today to schedule a private showing before it's gone!

Property Features

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