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1578 W 116th St
Cleveland, OH 44102 Edgewater

Price Upon Request

Apartments For Sale  •  6,854 SF

Property Details

  • Property Type Apartments
  • Total Building Size 6,854 SF
  • Lot Size 0.18 AC
  • Building Class C
  • Year Built 1927
  • Zoning GR
53 Transit Score
77 Walk Score

Highlights

The six-unit apartment building at 1578 W 116th Street received a new roof in 2023 and has had all units updated over the last five years.
Each unit has a scenic private balcony.
Each resident covers their own gas and electric payments.
This investment opportunity presents immediate cashflow with upside in bringing rents to market rates.

Financial Summary (Actual)

Net Operating Income: $40,163 USD (2024)
Total Expenses: $21,037 USD

Public Transportation

Commuter RailDriveWalkDistance
Cleveland Lakefront Station (Blue Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid), Green Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid)) 16 min - 6.3 mi
Transit/SubwayDriveWalkDistance
West 117 - Madison (Red Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid)) 1 min 5 min 0.3 mi
West Boulevard - Cudell (Red Line - Greater Cleveland Regional Transit Authority Rapid Transit (The Rapid)) 3 min 18 min 0.9 mi
AirportDriveWalkDistance
Cleveland-Hopkins International 19 min - 8.4 mi