3114 Vega Avenue
Property Description
Turnkey, fully occupied, and generating $3,200 per month in total Section 8 rental income, this 5-bedroom, 2-bath duplex in Tremont's highly desirable 44113 offers investors the rare combination of strong cash flow and a premium location. With tenants already in place, the next owner can step into an income-producing property from day one. The home has seen numerous improvements, including vinyl windows, updated cabinetry, renovated bathrooms, select mechanical upgrades, and additional updates throughout, helping make this a solid, low-maintenance addition to any rental portfolio. The location is where this investment really stands out. Situated in the Tremont area, the property is surrounded by some of Cleveland's most popular restaurants, coffee shops, bars, and neighborhood amenities while being just minutes from Ohio City, Downtown Cleveland, Clark-Fulton, MetroHealth, and other major employment centers. Tremont and the surrounding west-side neighborhoods continue to see new construction, renovations, and ongoing investment, making this an area that attracts both tenants and buyers looking to be close to everything Cleveland has to offer. For an investor, this property offers the best of both worlds: established income today with long-term appreciation potential in one of Cleveland's most recognized neighborhoods. With $3,200 in monthly voucher-backed rent already in place, a desirable unit mix, quality updates, and a location close to major hospitals, entertainment, dining, and downtown, much of the heavy lifting has already been done. Whether you're expanding an existing portfolio or looking for a stabilized multifamily property in a strong location, this is an opportunity worth a closer look.
Broker Details
KW Living (440) 318-1620
MLS ID: 2021004623 State License Number: 2021004623
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $285,000 |
| Year Built: | 1890 |
| Lot Size: | 2,068.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 5 |
| Number of Bathrooms: | 2 |
ID: 3yd-NEOHREXOH-5250599
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout