889 E 143rd StreetCleveland, OH 44110

Property Description

Value-Add 4-Unit with Major Capital Improvements Already Completed! Located just south of the growing Collinwood Arts District, 889 E 143rd offers investors the opportunity to increase cash flow where many of the major expenses have already been addressed. This 4-unit building consists of 2-bedroom units tenants and 1 vacant unit ready for light cosmetic updates. Current rents include Unit 2 at $475/month plus $50 water reimbursement and Unit 4 at $800/month, leaving significant room for future rental growth once stabilized. Unit 3 has already been cleaned out and can be turned quickly with minor updates.Recent improvements include a brand-new roof (2025), all new windows in Unit 3 (2025), all hot water tanks replaced (2026), serviced furnaces in strong working condition (2026), and cleaned-up electrical. The owner has also invested thousands into pest-proofing the property following concerns from Unit 4. Market rents are around $950 which produces a 15% cap rate once all units are renovated. Located near the shops, restaurants, galleries, and nightlife of the Collinwood Arts District-including local favorite Six Shooter Coffee-and minutes from Euclid's major waterfront redevelopment project improving public access to Lake Erie, this property offers both immediate upside and long-term neighborhood growth potential. Create value with some minor updates or even house hack and live in one of the units, either way- this is a great investment. Please note: the seller is not offering seller financing.

Property Features

Local Schools