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1156 Carl Ave 6 Unit Apartment Building $370,000 ($61,667/Unit) Cleveland, OH 44103
INVESTMENT HIGHLIGHTS
- Major renovations completed, including new roof (2025) with 15-year warranty.
- Updated systems throughout: new electrical panels, PVC plumbing, newer furnaces, and vinyl windows.
- Two units already rented at $1,150/month; remaining units vacant and ready for lease-up.
EXECUTIVE SUMMARY
This updated 6-unit apartment building offers strong cash flow potential with major improvements already completed. Each unit has 2 bedrooms and 1 full bath. The roof was replaced in 2025 and comes with a 15-year warranty. Each unit features refinished hardwood and luxury vinyl plank flooring, fresh paint, updated kitchens, and several bathroom upgrades. Every unit also includes a private porch, adding to tenant appeal. Building systems have been modernized with new GE electrical panels and wiring in each unit, a new exterior electric meter bank, updated PVC plumbing, newer furnaces, and several newer hot water tanks. Vinyl windows are installed throughout. Currently, Unit 1,2,5 & 6 are rented at $1,150/month each, with the remaining units vacant and ready for lease-up. This property is a turnkey opportunity for investors seeking immediate income with long-term upside.
PROPERTY FACTS
| Price | $370,000 | Apartment Style | Low-Rise |
| Price Per Unit | $61,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Sale Condition | High Vacancy Property | Building Size | 4,836 SF |
| No. Units | 6 | Average Occupancy | 33% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1917/2025 |
| Zoning | 2F | ||
| Price | $370,000 |
| Price Per Unit | $61,667 |
| Sale Type | Investment |
| Sale Condition | High Vacancy Property |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,836 SF |
| Average Occupancy | 33% |
| No. Stories | 2 |
| Year Built/Renovated | 1917/2025 |
| Zoning | 2F |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | $1,150 | 800 |
1 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 105-21-035 | Improvements Assessment | $45,535 |
| Land Assessment | $1,470 | Total Assessment | $47,005 |
PROPERTY TAXES
Parcel Number
105-21-035
Land Assessment
$1,470
Improvements Assessment
$45,535
Total Assessment
$47,005
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1156 Carl Ave
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