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$89,999
Est. payment /mo
4 Beds
2 Baths
5,519 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Crosbys Allotment
MLS Listing ID 5205115
Bedrooms 4
Full Baths 2
Construction Status Fixer
HOA Y/N No
Year Built 1920
Annual Tax Amount $1,200
Tax Year 2025
Lot Size 5,519 Sqft
Acres 0.1267
Property Sub-Type Duplex
Property Description
716 E 160th St | Multi-Family Investment OpportunityThe Bones You Want, The Upside You Need. Attention savvy investors and portfolio builders: this solid brick multi-family on E 160th St is a rare "diamond in the rough" located in a quiet, stable pocket of South Collinwood. Built in 1920, this property features the heavy-duty construction typical of the era, including a proven solid foundation and a classic brick exterior that minimizes long-term maintenance. The Opportunity: Duplex to Triplex PotentialWhile currently configured as a spacious duplex, the property's layout offers a unique path to higher yields:Unit 1 & 2: Classic 2-bedroom layouts with generous living spaces and traditional Cleveland charm.The Third Floor: A finished 3rd-floor attic space with a kitchen and bath—previously used by the owner—provides the potential for a legal 3-unit conversion (buyer to verify local zoning/egress requirements).The Work: The property requires a full interior renovation (electrical, cosmetic, and mechanical updates) but provides a "blank canvas" for a high-end rental or a premium Section 8 placement.Financial Snapshot & LocationRental Market: Average rents for 2-bedroom units in South Collinwood are trending toward $850–$1,000+ following renovation. A triplex configuration could easily push gross monthly income toward $2,500+.Structure: Detached 2-car garage, brick construction, and enclosed rear porches. Neighborhood: Located in a "Silent Zone" with minimal noise. Pride of ownership is evident on the street, making it an attractive choice for long-term tenants. Investor Note: Cleveland has emerged as a top 2026 market for cash-flow investors. With low acquisition costs and high rental demand, this property is priced to allow for a significant renovation budget while still hitting double-digit cap rate targets.
Location
State OH
County Cuyahoga
Interior
Heating Gas, Hot Water, Steam
Cooling None
Fireplace No
Exterior
Parking Features Detached, Garage
Garage Spaces 2.0
Garage Description 2.0
Water Access Desc Public
Roof Type Asphalt,Fiberglass
Private Pool No
Building
Foundation Block
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Construction Status Fixer
Schools
School District Cleveland Municipal - 1809
Others
Tax ID 116-14-062
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Listed by Jeffrey Schultheis • I Heart Real Estate, LLC. • 800-259-7670, cstevens@iheartreal.estate
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