One of the key selling points of this fourplex is its proximity to a construction site for five luxurious condo units. These condos, currently in the process of being built, are already being sold in the $500-$550 price range, indicating a high demand and promising returns on investment. Being adjacent to such a development not only adds value to the property but also creates opportunities for future growth and appreciation.
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The fourplex itself comprises four separate units, each boasting two bedrooms and one bathroom. While one of the upper units has undergone demo work, the owner currently occupies one of the lower front units. The remaining two units are occupied by tenants under a month-to-month agreement, providing an immediate income stream. The lower back unit also features a small deck and access to a fenced backyard, offering a desirable outdoor space for tenants.
One of the standout features of this property is its fantastic location. Situated between W. 26th and W. 27th street, it is within walking distance to the iconic West Side Market and the vibrant West 25th Street, known for its diverse range of restaurants, bars, and retail stores. This bustling neighborhood ensures a steady flow of potential tenants and buyers, further enhancing the investment potential of this duplex.
Families looking to settle in the area will be pleased to know that the Paul L. Dunbar Elementary/Middle school is conveniently located just one block away from the fourplex. This proximity to quality education institutions adds value to the property and increases its appeal to potential tenants or buyers seeking a family-friendly neighborhood.
Moreover, the property is strategically positioned just two blocks east of the former Voss Industries building, which was recently purchased by a development company. This ambitious company plans to convert the 240,000 square feet building into luxury condos, apartments, and retail spaces. Such major investments in the surrounding area further solidify the potential for growth and appreciation in property values.
In summary, this Cleveland duplex for sale is a golden investment opportunity. With its prime location on the border of the Duck Island neighborhood section of Ohio City, surrounded by ongoing redevelopments and luxurious condo units, this fourplex offers immense potential for investors, builders, and renovation specialists. Its proximity to popular amenities, schools, and major development projects ensures a steady stream of tenants and buyers, making it an attractive option for those seeking a lucrative real estate investment. Don’t miss out on this chance to secure a promising future in the thriving Cleveland real estate market.
2706 Monroe Avenue, Cleveland, OH 44113