3421 E 119th St 6 Unit Apartment Building $335,000 ($55,833/Unit) Cleveland, OH 44120

3421 E 119th Street presents an opportunity to acquire a 6-unit multifamily property in Cleveland, Ohio, offering immediate in-place rental income with additional upside through the lease-up of the remaining vacant unit.
The property features an attractive and consistent unit mix of six 2-bedroom / 1-bathroom apartments, with all units currently reported in good condition. Five of the six units are occupied at $700 per month, generating $3,500 in current gross monthly rental income, while one unit remains vacant. Stabilizing the property at the existing $700 rental rate would increase potential gross rental income to approximately $4,200 per month / $50,400 annually.
With approximately 83% physical occupancy, an investor can acquire an already income-producing asset while retaining a clear path toward increasing revenue through the lease-up of Unit 6. The uniform 2-bedroom floor plans also provide a straightforward operating profile for leasing and property management.
Located in Cleveland, the property offers investors an opportunity to add a manageable multifamily asset to an existing portfolio or establish a foothold in the Cleveland rental market. The combination of existing cash flow, good reported unit condition, and near-term vacancy upside makes 3421 E 119th Street particularly well suited for buy-and-hold investors seeking both current income and the ability to improve performance after acquisition.