3274 E 123rd Street, Cleveland, OH 44120

Property Description

Welcome to 3274 E 123rd Street in Cleveland—a strong investment opportunity in a high-demand rental corridor with immediate income and upside potential. This well-maintained duplex features a spacious 2-bedroom, 1-bathroom unit on the first floor and a 3-bedroom, 1-bathroom unit on the second floor, offering flexibility for both investors and owner-occupants alike. The upstairs unit is currently leased at $975 per month through November 2026, providing stable, long-term income from day one. The downstairs unit is vacant and freshly painted, making it rent-ready and primed for immediate occupancy or placement of a new tenant at market rents. This property has the potential to be a true cash-flowing asset. Based on CMHA payment standards for the 44120 zip code, 2-bedroom units can generate up to $1,367 per month and 3-bedroom units up to $1,762 per month—bringing the total potential monthly rent to approximately $3,129 when fully optimized. For added peace of mind, major mechanical updates have already been completed, including newer furnaces and hot water tanks, reducing near-term capital expenditure concerns for the next owner. Whether you’re looking to expand your portfolio or secure a performing asset with strong rental upside, this property checks all the boxes. Reach out to your favorite Realtor today—this opportunity will not last long!