2997 E 130th Street, Cleveland, OH 44120

Property Description

Welcome to 2997 E 130th Street in Cleveland, OH 44120—a fully renovated triplex located just a stone’s throw from the revitalized Shaker Square Shopping Center. This vibrant area has seen significant investment in recent years and offers a wide variety of amenities including a movie theater, grocery store, veterinarian office, popular restaurants, and more—making it an ideal location for tenants or homeowners alike. This solid brick property features three updated units: the first and second floors each offer 3 bedrooms and 1 bathroom, while the third-floor unit includes 2 bedrooms and 1 bathroom. Every unit has been thoughtfully renovated from top to bottom, featuring fresh paint, new flooring, brand-new kitchens with modern finishes, and fully updated bathrooms. Major systems have also been addressed, with all-new plumbing and electrical. Additionally, new furnaces and hot water tanks will be installed prior to closing, offering added peace of mind. From an investment perspective, this property is a cash-flow powerhouse. Based on the 2025 CMHA payment standards—$1,468 for 3-bedroom units and $1,129 for 2-bedroom units—this triplex has the potential to generate $4,065 per month in rental income. At a $150,000 purchase price, that equates to a 2.7% monthly return and significantly exceeds the traditional 1% rule, making it an exceptional opportunity for savvy investors. Whether you're looking for a turnkey rental property or an owner-occupant strategy like house hacking, this triplex checks all the boxes. Don’t miss out—contact your favorite realtor today to schedule a private showing. This one won’t last long!