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Professor 2151 Professor Ave 4 Unit Apartment Building $1,100,000 ($275,000/Unit) 6% Cap Rate Cleveland, OH 44113
INVESTMENT HIGHLIGHTS
- This property features retail storefront space (~1,350?sq?ft) with three residential-ideal for owner-occupiers or multi-revenue investment scenarios
- This location offers direct access to dining, nightlife, and cultural attractions, including Dante, Barrio Tacos, Ginko, and The Treehouse
- Immediate access to RTA bus lines, I-90, and Lorain Avenue make commuting and connectivity a breeze.
- The retail component includes seven private parking spaces for customers, with immediate proximity to I-90 (0.2?mi), ensuring excellent visibility an
- Units offer renovation or cosmetic upgrade opportunities to further increase rents and long-term returns.
EXECUTIVE SUMMARY
Discover a rare opportunity to own a mixed-use asset in the heart of Tremont—one of Cleveland’s most vibrant and walkable neighborhoods. 2151 Professor Avenue is ideally situated on a prime corner lot with excellent visibility, foot traffic, and proximity to some of the city's best dining, retail, and cultural destinations.
This unique property features a well-maintained street-level retail space, currently built out for commercial use, along with a spacious and updated residential unit above. A separate duplex structure at the rear of the property adds additional rental income potential, making this an ideal investment for owner-users or investors seeking a foothold in one of Cleveland’s strongest submarkets.
This unique property features a well-maintained street-level retail space, currently built out for commercial use, along with a spacious and updated residential unit above. A separate duplex structure at the rear of the property adds additional rental income potential, making this an ideal investment for owner-users or investors seeking a foothold in one of Cleveland’s strongest submarkets.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,100,000 | Building Class | C |
| Price Per Unit | $275,000 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 4,264 SF |
| Cap Rate | 6% | Average Occupancy | 75% |
| Gross Rent Multiplier | 11.9 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1890 |
| Property Type | Multifamily | Parking Ratio | 1.64/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | GR - General Retail Business | ||
| Price | $1,100,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 11.9 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,264 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1890 |
| Parking Ratio | 1.64/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | GR - General Retail Business |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Refrigerator
- Tub/Shower
- Basement
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,250 | 896 |
| 2+2 | 2 | $1,450 | 896 - 1,236 |
1 1
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 004-15-042 | Total Assessment | $122,220 (2024) |
| Land Assessment | $29,330 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $92,890 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
004-15-042
Land Assessment
$29,330 (2024)
Improvements Assessment
$92,890 (2024)
Total Assessment
$122,220 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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My Place Group
Professor | 2151 Professor Ave
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