The Adriana Townhomes 7413 Decker Ave 5 Unit Apartment Building $499,000 ($99,800/Unit) 11.78% Cap Rate Cleveland, OH 44103

Green Bridge Real Estate is pleased to offer the Adriana Townhouses, a fully renovated and stabilized, five suite townhome style row building located at 7413-7421 Decker Avenue, Cleveland, Ohio 44103 Offered at $499,000, this property delivers an exceptional 11.78% Actual, Current, Capitalization Rate and a current Net Operating Income (NOI) of $58,761. Positioned below two Spring 2026 appraisals ($500,000 and $515,000), this asset provides immediate equity upon acquisition.
Built as a classic two-story row townhouse on a 0.57-acre parcel, the 6,650 sq. ft. building was built in 1910 and extensively renovated in 2025. This project replaced all electrical, plumbing, heating systems, interior fixtures, and finishes—essentially creating a brand-new building inside the original frame and shell.
The Adriana Townhouses consist of 5 Three Bedroom, One Bath 1,092 Sq.Ft. w/547 Sq.Ft. Basement area Units. Recently received 2 year Lead Safe Certificate. Ideal Stabilized Apartment Complex with very low management and maintenance. Each of the units feature new individually controlled forced air, gas fired furnaces and electric hot water heaters. Owner pays only trash, water & sewer. Tenant paid gas (heat) and electric. Currently 80% Occupied (4 of 5) with 3 of the 4 occupied units subsidized with “guaranteed” rent payments provided by Federal and State Funding for assistance to low income individuals under the Section 8 Voucher program. This arrangement provides a stable, consistent tenant base with “guaranteed” rent payments.
Interim, First position Seller Financing is available to qualified purchasers with 50% down, 6.0% Interest (6.0% APR), 20 year amortization, balloon payment due in 12 months, monthly principal and interest payments with an additional real estate tax escrow.
Perfectly positioned in the Hough neighborhood off Superior Avenue and Addison Road, 1.25 miles northwest of the Cleveland Clinic main campus, 2 miles from University Circle and 3 miles from Downtown Cleveland and offers the potential to operate as high-end housing for Cleveland Clinic employees or patients, possible condo conversion and/or a short term rental building such as AirBnB or equivalent.