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1923 Willey Ave - Cooper Flats 1 Acre of Commercial Land Offered at $695,000 in Cleveland, OH 44113
Investment Highlights
- Within an Opportunity Zone, 100% Tax Abatement (grandfathered pre-2024), 1-acre site in Duck Island, between Tremont & Ohio City
- A rare chance to control a fully entitled urban infill project in one of Cleveland’s fastest-evolving neighborhoods— build it yourself
- Walkable to restaurants, transit, and Cleveland’s top cultural hubs.
- Modern design, strong rental demand, walkable urban location, and attractive long-term tax benefits.
- Build it yourself and capture the upside, or acquire it turnkey and cash-flow immediately.
- Boutique scale with strong rentability and minimal competition.
Executive Summary
They intend to apply for a total of $426,555.00. And they have already engaged a firm to handle all the necessary legal work and paperwork for this funding.
MODERN LIVING IN DUCK ISLAND
21-Unit Boutique Apartment Development Opportunity
PROJECT FOR SALE
This offering presents a rare opportunity to acquire a fully entitled multifamily development in one of Cleveland’s most desirable neighborhoods. The project is currently unfinished.
Prime Location: Duck Island
Situated on a 1-acre site between Tremont and Ohio City, the development is located in an Opportunity Zone and benefits from a grandfathered 100% tax abatement under pre-2024 City of Cleveland regulations.
Investment Highlights
Rare infill site in a high-demand rental market
Strong long-term tax advantages
Modern boutique design with efficient 1BR layouts
Walkable to dining, entertainment, and transit
Property Facts
| Price | $695,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 1.00 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $695,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 1.00 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $695,000 | Lot Size | 1.00 AC |
| Price Per AC | $695,000.00 |
| Price | $695,000 |
| Price Per AC | $695,000.00 |
| Lot Size | 1.00 AC |
Situated on a 1-acre site between Tremont and Ohio City, the development lies within an Opportunity Zone and benefits from a grandfathered 100% tax abatement under pre-2024 City of Cleveland regulations. Please call the agent for more details.
Description
PROJECT FOR SALE: a fully entitled multifamily development. The seller just received confirmation that they are eligible to apply for Opportunity Zone (OZ) funding, which can be applied toward the overall construction costs. They intend to apply for a total of $426,555.00. And they have already engaged a firm to handle all the necessary legal work and paperwork for this funding. The project is currently unfinished. • $695,000 — Current Stage (Unfinished) Acquire the project as-is, including: Fully entitled plans Completed design review & zoning approvals Completed geotechnical & Phase I environmental assessments Completed site clearing, partial grading, and tree removal Final building permits are pending with the City of Cleveland
Property Taxes
| Parcel Number | 004-04-035 | Improvements Assessment | $0 |
| Land Assessment | $100,310 | Total Assessment | $100,310 |
Property Taxes
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1923 Willey Ave - Cooper Flats
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