3214 W 61ST STREET
Property Description
ATTENTION INVESTORS! TRUE TURNKEY CASH-FLOW OPPORTUNITY! Fully occupied 3-family investment package consisting of a duplex plus a separate single-family home. Current and offered rents provide strong income potential, with the downstairs duplex unit increasing from $1,078 to a new 12-month lease offer of $1,250/month, the upstairs unit at $1,011/month with renewal currently in process, and the rear home increasing from $1,030 to a new 12-month lease offer of $1,100/month. At these rental rates, the property offers potential gross annual rental income of approximately $40,332. Property is Lead Certified as of April 2026, meeting City of Cleveland requirements. Completely remodeled with no expense spared and successfully self-managed from the West Coast, this property is ideal for a first-time investor or a strong addition to an existing portfolio. Two homes are situated on one lot, featuring a front duplex plus a separate stand-alone home in the rear. The duplex includes a spacious 2-bedroom first-floor unit and a 1-bedroom upstairs unit, while the rear home offers a private 1-bedroom layout. Both homes feature updated mechanicals, newer vinyl siding, updated vinyl windows, and extensive interior renovations. Interiors offer fresh paint, updated flooring, remodeled kitchens and baths, and included appliances. Well-maintained condition and established tenancy provide an attractive opportunity for investors seeking stable rental income with additional upside through the current lease renewals and rent increases. Located in a desirable Cleveland ZIP code with strong rental demand, this rare, fully occupied and Lead-Certified multifamily package offers convenience, income potential, and long-term investment opportunity.Broker Details
Coldwell Banker Schmidt Realty (440) 572-0220
MLS ID: 426983 State License Number: 426983
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $237,500 |
| Year Built: | 1900 |
| Lot Size: | 1,963.00 Sq ft |
| Opportunity Zone: | No |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 3 |
ID: 3yd-CBSCHMIDT-228051541
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