49
See all 49 photos
$399,000
Est. payment /mo
8 Beds
4 Baths
6,502 SqFt
Pending
8111 Madison AVE Cleveland, OH 44102
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 6,502 sqft
Price per Sqft $61
Subdivision Hardy
MLS Listing ID 5186674
Bedrooms 8
Full Baths 4
HOA Y/N No
Abv Grd Liv Area 4,372
Year Built 1920
Annual Tax Amount $5,592
Tax Year 2024
Lot Size 4,996 Sqft
Acres 0.1147
Property Sub-Type Quadruplex
Property Description
Fully renovated 4-unit investment opportunity in the growing 44102 neighborhood, delivered completely vacant and ready for immediate lease-up. Each unit features 2 bedrooms and has been fully updated with new kitchen cabinets, countertops, flooring, fresh paint, and fully remodeled bathrooms. Major capital improvements include new furnaces, new hot water tanks, updated mechanical systems, new electrical, new gas service, and new windows, meaning the heavy lifting has already been completed, and the only remaining step is placing tenants and collecting rent. CMHA market rents support approximately $1,100–$1,300 per unit, creating a projected gross income of $4,500+ per month once stabilized. Tenants pay their own gas and electric, keeping operating expenses low, with the owner responsible only for water and sewer; implementing a utility reimbursement program could further increase NOI. Conveniently located near Detroit Shoreway, Starbucks, Lakewood, and major retail corridors, this property sits in one of Cleveland's most active rental markets with strong tenant demand and long-term growth potential. NO seller financing.
Location
State OH
County Cuyahoga
Rooms
Basement Partial
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Exterior
Parking Features Other
Water Access Desc Public
Roof Type Composition,Shingle
Private Pool No
Building
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 006-03-032
Special Listing Condition Standard
Listed by Erin Thomas • Keller Williams Living • Erinthomas@kwcommercial.com, 440-670-2300
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