8111 Madison Avenue, Cleveland, OH 44102

Property Description

Fully renovated 4-unit investment opportunity in the growing 44102 neighborhood, delivered completely vacant and ready for immediate lease-up. Each unit features 2 bedrooms and has been fully updated with new kitchen cabinets, countertops, flooring, fresh paint, and fully remodeled bathrooms. Major capital improvements include new furnaces, new hot water tanks, updated mechanical systems, new electrical, new gas service, and new windows, meaning the heavy lifting has already been completed, and the only remaining step is placing tenants and collecting rent. CMHA market rents support approximately $1,100–$1,300 per unit, creating a projected gross income of $4,500+ per month once stabilized. Tenants pay their own gas and electric, keeping operating expenses low, with the owner responsible only for water and sewer; implementing a utility reimbursement program could further increase NOI. Conveniently located near Detroit Shoreway, Starbucks, Lakewood, and major retail corridors, this property sits in one of Cleveland’s most active rental markets with strong tenant demand and long-term growth potential. NO seller financing.