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Storefront + 5 Apartments 8621 Denison Ave 5 Unit Apartment Building $450,000 ($90,000/Unit) 11.73% Cap Rate Cleveland, OH 44102

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Executive Summary

Income-producing 6-unit building in the heart of Cleveland's West Side, featuring 3 one-bedroom, one-bath , 2 two-bedroom, one bath apartments and 1 storefront. All apartment tenants are Section 8, paying their own electric and gas, while the owner covers water and sewer. Current rents: Unit 1 $840/month (month-to-month since 8/22), Unit 2 $839month, Unit 3 $810/month (month-to-month since 7/23), Unit 4 $974/month (lease expires 8/26), Unit 5 $999/month (month-to-month since 10/23), and the storefront $1,000/month (lease expires 7/26). Well-maintained and turnkey, this property offers reliable cash flow and excellent investment potential. Located on a bus line and just minutes from downtown, the airport, and freeway access, this building is a prime opportunity for investors seeking immediate income in a high-demand area.

Rent Roll

Financial Summary (Actual - 2025)	Annual	Annual Per SF
Gross Rental Income	$53,311	$6.55
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$53,311	$6.55
Taxes	$5,777	$0.71
Operating Expenses	$6,756	$0.83
Total Expenses	$12,533	$1.54
Net Operating Income	$40,778	$5.01

Financial Summary (Actual - 2025)

Gross Rental Income
Annual	$53,311
Annual Per SF	$6.55

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$53,311
Annual Per SF	$6.55

Taxes
Annual	$5,777
Annual Per SF	$0.71

Operating Expenses
Annual	$6,756
Annual Per SF	$0.83

Total Expenses
Annual	$12,533
Annual Per SF	$1.54

Net Operating Income
Annual	$40,778
Annual Per SF	$5.01

Property Facts

Price	$450,000	Apartment Style	Low-Rise
Price Per Unit	$90,000	Building Class	C
Sale Type	Investment	Lot Size	0.17 AC
Cap Rate	11.73%	Building Size	8,133 SF
No. Units	5	No. Stories	2
Property Type	Multifamily	Year Built/Renovated	1916/1950
Property Subtype	Apartment General Retail Storefront Retail/Residential	Parking Ratio	0.25/1,000 SF
Zoning	LR

Price	$450,000
Price Per Unit	$90,000
Sale Type	Investment
Cap Rate	11.73%
No. Units	5
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.17 AC
Building Size	8,133 SF
No. Stories	2
Year Built/Renovated	1916/1950
Parking Ratio	0.25/1,000 SF
Zoning	LR

Unit Amenities

Kitchen
Refrigerator

Oven

Sprinkler System

Tub/Shower

1 1

Walk Score®

Very Walkable (74)

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Property Taxes

Parcel Number	017-30-011	Total Assessment	$50,295 (2024)
Land Assessment	$5,040 (2024)	Annual Taxes	$5,777 ($0.71/SF)
Improvements Assessment	$45,255 (2024)	Tax Year	2025