3371 Beechwood Avenue, Cleveland Heights, OH 44118

Property Description

Triplex investment opportunity in the heart of Cleveland Heights! Located at 3371 Beechwood Avenue, this recently renovated multi-family property offers immediate income with additional upside for savvy investors. Currently 2/3 occupied with long-term tenants, the property provides stable cash flow from day one, with the opportunity to increase returns. The fully renovated first-floor unit is vacant and actively marketed at $1,400/month, positioning the asset to generate over $3,000/month once fully leased. This opportunity is projected at an attractive **~7.6% pro forma cap rate** at a $270K purchase price, offering a compelling blend of in-place income and lease-up potential. Extensive recent updates reduce maintenance concerns and enhance tenant appeal, including freshly painted interiors, new carpeting, updated kitchen countertops, a newer section of the roof, brand-new HVAC systems, and updated plumbing throughout. Cleveland Heights is a proven rental market known for strong tenant demand, historic charm, and proximity to major employers, universities, and healthcare institutions. Its walkable neighborhoods and enduring appeal continue to support stable occupancy and long-term appreciation, making it one of Greater Cleveland’s most reliable submarkets for multi-family investment. Whether expanding a portfolio or entering the market, this property offers the ideal mix of cash flow, value-add potential, and long-term growth. Don’t miss the opportunity to secure a high-performing asset in one of Northeast Ohio’s most established investment corridors.