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.

Listing courtesy of Jeffrey Schultheis of I Heart Real Estate, LLC.



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