9222 Madison Ave 6 Unit Apartment Building $429,999 ($71,667/Unit) 7.53% Cap Rate Cleveland, OH 44102

Positioned in the heart of Cleveland’s revitalizing Madison corridor, this rare two-building parcel offers a compelling blend of stable income and value-add upside. With four fully leased residential units generating $52,800 annually and two white-box retail spaces ready for occupancy, investors can tap into immediate cash flow while unlocking future growth.
The residential units are generously sized, with each building offering two 3-bedroom layouts—one with 1 bath and the other with 1.5 baths—ideal for long-term tenancy. The retail spaces are primed for customization and feature high-visibility frontage, modern finishes, and an ADT security system already in place.
Located in a walkable, high-traffic area with strong commercial and residential synergy, the property benefits from proximity to downtown Cleveland, major transit routes, and a growing base of local businesses. For developers, the adjacent lots available through the Cleveland Land Bank Reutilization present a rare chance to expand, redevelop, or add parking at minimal cost.
Improvements: In 1987 and 1989 W. 93 1987: New furnace, Basement freshly painted, New water tank installed 1989-installed new water proof system by OH Basement System, new water tank installed
Madison: Retail ADT survaliance monitor-3 camera views new siding exterior, white box improvement est. $80-90K combined
Whether you're seeking a turnkey investment with upside or a strategic redevelopment play, this property delivers flexibility, location strength, and income stability.