6516 St Clair AveCleveland, OH 44103

For Sale
$183,900

Cleveland Mixed-Use Building, 5 Units

Overview

Added:
Dec 11, 2024
Days on market:
92
This prime Cleveland, Ohio mixed-use property at 6516 St Clair Ave, offers a compelling value-add investment opportunity. The 4,660 square foot building, constructed in 1910, features a four-story structure situated on a 3,750 square foot lot (APN 10524005). Currently, the property boasts a 50% occupancy rate with two of the five units rented at a combined monthly rent of $750. The building comprises a ground-floor storefront and three apartments above. Two apartments are currently occupied, while one requires complete rehabilitation, presenting a significant opportunity to increase rental income. The storefront space offers flexibility, potentially divisible into two separate units, catering to various commercial uses. This property benefits from its convenient location near downtown Cleveland, ensuring high visibility and accessibility. The gross lease structure and multi-tenant occupancy contribute to the property's investment appeal. This is a multifamily and retail property with a total asking price of $183,900.

Highlights

  • Prime Cleveland, OH mixed-use property at 6516 St Clair Ave.
  • 4,660 SF building on a 3,750 SF lot (APN 10524005), built in 1910.
  • 50% occupancy; two of five units rented for $750/month combined.
  • Ground-floor storefront and three apartments; one apartment needs rehab.
  • Storefront potentially divisible into two units; near downtown Cleveland.
  • $183,900 asking price.

Property Details for 6516 St Clair Ave

Property type
Other retail properties, Individual retail properties
Square Feet
4,660 SF
Year Built
1910
Stories
4
Units
5

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.5253226
Longitude
-81.6446263
6516 St Clair Ave, Cleveland, Ohio

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6516 St Clair Ave
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