801 Literary RdCleveland, OH 44113

For Sale
$1,450,000

Historic Cleveland building, high rental income.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional mixed-use property in Cleveland's vibrant Tremont neighborhood presents a compelling investment opportunity. The 3,900 square foot building, constructed in 1913, sits on a 0.05-acre lot (APN 004-16-071) and is zoned for commercial use. Currently generating substantial rental income from a thriving hair salon and a stylishly updated apartment, this property offers significant potential for increased revenue. The ground floor salon features six styling stations, a bathroom, and a kitchen/break area, with potential for conversion into a separate unit. The second floor apartment boasts a modern industrial aesthetic, including a spacious kitchen, living room, laundry room, two bedrooms, and two bathrooms. A luxurious master suite with a heated bathroom floor is located on the third floor, with the possibility of creating a third separate unit by enclosing the soffit. Three balconies offer stunning downtown views. Six parking spaces are included. The salon currently generates $2,892 in monthly rent, and the apartment generates $3,914, both with a 3% annual rent increase. This property is ideal for investors seeking multiple income streams or homeowners looking to offset mortgage costs, capitalizing on Tremont's growing demand for residential and commercial space. The asking price is $1,450,000 ($371.79/sq ft).

Highlights

  • $1,450,000 asking price for a 3,900 square foot mixed-use property.
  • Located at 801 Literary Rd, Cleveland, OH 44113 (APN: 004-16-071), on a 0.05-acre lot.
  • Built in 1913, with Commercial zoning.
  • Currently configured as a hair salon and apartment, generating combined annual income of approximately $78,000 (with 3% annual rent increases).
  • Features six parking spaces and three balconies.

Property Details for 801 Literary Rd

Property type
Other mixed-use properties, Mixed-use properties
Square Feet
3,900 SF
Year Built
1913
Lot Size (sq. ft)
2,178 SF

Location Insight

City
Cleveland
County
Cuyahoga
State
Ohio
Latitude
41.4819028
Longitude
-81.6859805
801 Literary Rd, Cleveland, Ohio

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
801 Literary Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message