8311 Decker Avenue
Property Description
Excellent investment opportunity at 8311 Decker Ave! This triplex offers a desirable combination of established rental income, tenant stability, and additional income potential. The first-floor unit is currently vacant, allowing the next owner to immediately place a tenant at current market rents. CMHA rental rates in the 44103 ZIP code can reach as high as $1,209, providing an opportunity to further increase the property's gross monthly income. Unit 2 features 2 bedrooms and 1 bathroom and is occupied by a cash-paying tenant at $750 per month, with a lease through 5/1/2027. Unit 3 features 1 bedroom and 1 bathroom and is occupied by a cash-paying tenant at $600 per month, with a lease through 12/1/2026. The property also features furnaces and hot water tanks that are approximately five years old or newer, adding to the property's overall appeal as a largely stabilized multifamily investment. With two occupied units already generating income and a vacant unit ready for lease-up, this property offers investors a strong foundation of existing cash flow with built-in rental upside. The current lease structure provides stability in the near term while giving the next owner opportunities to increase revenue as leases turn over and rents are brought closer to market. Conveniently located near Cleveland Clinic, Downtown Cleveland, major employment centers, shopping, dining, and public transportation, with easy access to nearby highways and destinations throughout Northeast Ohio. A great opportunity for an investor looking to acquire a largely stabilized multifamily property with existing income and room for future growth.
Broker Details
Lokal Real Estate, LLC (216) 252-6580
MLS ID: 2022000189 State License Number: 2022000189
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $175,000 |
| Year Built: | 1900 |
| Lot Size: | 2,802.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 5 |
| Number of Bathrooms: | 3 |
ID: 3yd-NEOHREXOH-5242656
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