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2215 Overlook Road, Cleveland Heights

Welcome to Overlook Arms, a rare 20-unit multifamily investment opportunity located just steps from Little Italy, the Cleveland Clinic Main Campus, and Case Western Reserve University. This ideally positioned property offers a secluded suburban feel while being surrounded by vibrant bars, restaurants, and nightlife. With 16 one-bedroom and 4 two-bedroom units, the building is perfect for student housing or market-rate tenants seeking unbeatable convenience. Ten of the units have been fully renovated and four more lightly updated, allowing for immediate upside through increased rents. Residents enjoy a spacious common entryway, on-site coin-operated laundry, covered parking, and a flat utility reimbursement as well as cable and internet, boosting cash flow. Overlook Arms combines prime location and easy value-add potential—making it a must-see asset in one of Cleveland’s most desirable rental markets.

Welcome to Overlook Arms, a rare 20-unit multifamily investment opportunity located just steps from Little Italy, the Cleveland Clinic Main Campus, and Case Western Reserve University. This ideally positioned property offers a secluded suburban feel while being surrounded by vibrant bars, restaurants, and nightlife. With 16 one-bedroom and 4 two-bedroom units, the building is perfect for student housing or market-rate tenants seeking unbeatable convenience. Ten of the units have been fully renovated and four more lightly updated, allowing for immediate upside through increased rents. Residents enjoy a spacious common entryway, on-site coin-operated laundry, covered parking, and a flat utility reimbursement as well as cable and internet, boosting cash flow. Overlook Arms combines prime location and easy value-add potential—making it a must-see asset in one of Cleveland’s most desirable rental markets.

2215 Overlook Road, Cleveland Heights

2729 Euclid Heights Boulevard, Cleveland Heights

Rarely does a property this well-positioned and well-built come to market in Cleveland Heights. This all-brick eight-unit building sits directly in the heart of Coventry Village, one of Greater Cleveland's most culturally vibrant neighborhood corridors. At $725,000 (just $90,625 per door), you are acquiring a hardened asset in a submarket where tenants plant roots and stay for years. Two units are vacant and actively being marketed, and once those lease up, you're looking at a stabilized effective gross income of $117,000 annually, already accounting for 5% vacancy. The real upside is clearly defined. Six of the eight units are oversized three-bedroom, one-bath apartments with a bonus room functioning as a fourth bedroom, an extremely rare floor plan that has been chronically underrented for years. Beautiful hardwood floors run throughout, the building features a newer boiler, updated electrical, vinyl windows, and on-site laundry for additional passive income. As leases turn and rents reach market, effective gross income rises to over $135,000 annually and NOI climbs to $61,835, an 8.83% proforma cap rate on the same $725,000 basis. The two basement two-bedroom units represent a clear cosmetic value-add layer on top of that organic rent growth. Then there's the parking. Garage parking at the rear is nearly impossible to find in Coventry and functions as both a retention tool and premium driver for the tenant profile you want here. Steps from the Grog Shop, Tommy's, Pacific East, and the B-Side Lounge, and minutes from the Cleveland Museum of Art, Severance Hall, and Little Italy. Cleveland Clinic, University Hospitals, and Case Western sustain a deep pool of professional renters within a five-minute drive, the workforce renter who values walkability and secure parking stays three years, not one. At $90,625 per door on an all-brick building with a clear path to an 8.83% proforma cap rate, this is a genuinely rare opportunity. Properties like this don't sit long.

Rarely does a property this well-positioned and well-built come to market in Cleveland Heights. This all-brick eight-unit building sits directly in the heart of Coventry Village, one of Greater Cleveland's most culturally vibrant neighborhood corridors. At $725,000 (just $90,625 per door), you are acquiring a hardened asset in a submarket where tenants plant roots and stay for years. Two units are vacant and actively being marketed, and once those lease up, you're looking at a stabilized effective gross income of $117,000 annually, already accounting for 5% vacancy. The real upside is clearly defined. Six of the eight units are oversized three-bedroom, one-bath apartments with a bonus room functioning as a fourth bedroom, an extremely rare floor plan that has been chronically underrented for years. Beautiful hardwood floors run throughout, the building features a newer boiler, updated electrical, vinyl windows, and on-site laundry for additional passive income. As leases turn and rents reach market, effective gross income rises to over $135,000 annually and NOI climbs to $61,835, an 8.83% proforma cap rate on the same $725,000 basis. The two basement two-bedroom units represent a clear cosmetic value-add layer on top of that organic rent growth. Then there's the parking. Garage parking at the rear is nearly impossible to find in Coventry and functions as both a retention tool and premium driver for the tenant profile you want here. Steps from the Grog Shop, Tommy's, Pacific East, and the B-Side Lounge, and minutes from the Cleveland Museum of Art, Severance Hall, and Little Italy. Cleveland Clinic, University Hospitals, and Case Western sustain a deep pool of professional renters within a five-minute drive, the workforce renter who values walkability and secure parking stays three years, not one. At $90,625 per door on an all-brick building with a clear path to an 8.83% proforma cap rate, this is a genuinely rare opportunity. Properties like this don't sit long.

2729 Euclid Heights Boulevard, Cleveland Heights

2622-2624 Hampshire Road, Cleveland Heights

Income property! Two units with sustainable income. Each unit is unique and offers two types of appeals for the Cleveland Heights market. This great location offers housing close to Cleveland State University, close to Little Italy, and within a mile of a community of restaurants and shops on Coventry Rd. Enjoy all the amenities of the Cleveland area! This area has many parks, hiking trails, bike trails, and much more! Unit 2622 has had many upgrades, windows, carpet, updated bathrooms and kitchen. The sale includes kitchen appliances, including oven/range (2), refrigerator (2), dishwashers (2), and the built-in microwave. Both units also came with a washer and dryer (the units in 2624 are new!). This duplex is priced to be competitive in its current "as is" condition, and comes with a seller provided warranty. With a little TLC this investment could generate a much higher return.

6 Beds ⋅ 4 Baths ⋅ 5151422 MLS

Income property! Two units with sustainable income. Each unit is unique and offers two types of appeals for the Cleveland Heights market. This great location offers housing close to Cleveland State University, close to Little Italy, and within a mile of a community of restaurants and shops on Coventry Rd. Enjoy all the amenities of the Cleveland area! This area has many parks, hiking trails, bike trails, and much more! Unit 2622 has had many upgrades, windows, carpet, updated bathrooms and kitchen. The sale includes kitchen appliances, including oven/range (2), refrigerator (2), dishwashers (2), and the built-in microwave. Both units also came with a washer and dryer (the units in 2624 are new!). This duplex is priced to be competitive in its current "as is" condition, and comes with a seller provided warranty. With a little TLC this investment could generate a much higher return.

2622-2624 Hampshire Road, Cleveland Heights

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