608 E 185th St - 6 Units
608 E 185th St, Cleveland, OH 44119
Price
$250,000
Units
6
Cap Rate
6.37%
NOI
$17,202
Price / Unit
$47,983
Occupancy
100%
Year Built
Type
Multifamily
Proforma
Cap Rate
12.15%
NOI
$32,809
About This Property
Incredible opportunity to acquire a fully occupied mixed-use property on East 185th Street in Cleveland, Ohio, just outside of Euclid. This cash-flowing asset features four commercial storefronts and a duplex on the same lot, with all units currently leased. The commercial spaces are slightly under market rent, each averaging $750/month, offering immediate upside on renewals. The duplex consists of two one-bedroom, one-bath units—one leased at $625/month through 11/30/2025, and the other at $575/month through 7/31/2026. A brand-new roof is being installed on the commercial building, reducing future capital expenditures for the new owner. Based on current financials, the property is operating at an 8%+ cap rate, with a clear path to double-digit returns through modest rent increases. This is a rare, low-maintenance, income-producing asset in a high-visibility location ideal for any investor seeking strong in-place cash flow with value-add potential.