2653 W 27th Street, Cleveland, OH 44113

Property Description

Excellent investment opportunity in Cleveland’s desirable Ohio City neighborhood! This unique property features three rental units across two separate buildings on one parcel, offering an attractive combination of established rental income and long-term investment potential. The front building is a spacious duplex (2,700 sq ft) featuring two large 2-bedroom, 1-bathroom units, currently rented for $1,050 and $1,129 per month. The rear single family (1,080 sq ft) is a detached 2-bedroom, 1-bathroom currently rented for $1,200 per month. All of the tenants are long term on month to month leases rented through Section 8. Together, the three units generate $3,379 in monthly rental income, or $40,548 annually! All three units are Lead Free Certified through the City of Cleveland, providing an additional benefit for investors. Conveniently located within walking distance of the new 60-unit Hub 27 development to begin leasing in Spring 2027. The surrounding area is also positioned for additional investment, with developers proposing future grocery, senior housing, and other commercial projects! Whether you're expanding an existing rental portfolio or seeking a multifamily investment in one of Cleveland’s established urban neighborhoods, this property offers immediate rental income, a versatile two-building configuration, and proximity to exciting neighborhood redevelopment.