Vision Sales Team

1683 Colonial Drive

Cleveland Heights , OH 44118

MLS#: 5168272

$345,000

Status: Active
Listing number: 5168272
Listing provided by: Russell Real Estate Services
Listing agent phone: None
Last update: a month ago
On site: a month ago
Browse Properties
Minor Heights - Residential Income

Property

Beds

7

Full Baths

3

1/2 Baths

None

Year Built

1912

Sq.Footage

2,799

Investor’s dream meets house-hacker’s paradise! This fully updated three-unit gem is just minutes from the vibrant Coventry Village, offering both strong returns and endless flexibility. The first-floor unit is a spacious 3-bed, 1-bath leased for $1,500/month, while the freshly vacated second-floor 3-bed, 1-bath (previously rented at $1,800/month) is move-in ready, perfect for an owner-occupant to live in comfort while your tenants pay the mortgage. The third unit, a charming 1-bed, 1-bath Airbnb/midterm rental, averages $1,500/month, giving you multiple income streams and short-term rental upside. Once fully occupied, enjoy an impressive 10%+ cap rate and nearly 15% cash-on-cash return, a true turnkey opportunity whether you’re adding to your portfolio or diving into your first investment. With modern updates, central air, reliable income, and unbeatable proximity to shops, dining, and nightlife, this property delivers financial freedom and lifestyle flexibility in one rare package. *Note - County auditor website states that there are 4 bedrooms and 2 bathrooms but the owner states that there are 7 bedrooms and 3 bathrooms.

Features & Amenities

Interior

  • Total Bedrooms

    7

  • Bathrooms

    3

  • Above Grade Finished Area

    2799.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    None, Central Air

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    2

  • Construction Materials

    Frame

  • Parking

    Detached, Garage, On Site, Paved

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.11

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

Price

  • Sales Price

    $345,000

  • Tax Amount

    9662.0

  • Sq. Footage

    2, 799

  • Price/SqFt

    $123

HOA

  • Association

    No

School District

  • Elementary School

    Cleveland Hts-Univer - 1810

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Cuyahoga

Elementary School

Cleveland Hts-Univer - 1810

Middle School

High School

Listing Courtesy of Tal Tamir , Russell Real Estate Services

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CarlaBolf

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(330) 814-6422

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Investor’s dream meets house-hacker’s paradise! This fully updated three-unit gem is just minutes from the vibrant Coventry Village, offering both strong returns and endless flexibility. The first-floor unit is a spacious 3-bed, 1-bath leased for $1,500/month, while the freshly vacated second-floor 3-bed, 1-bath (previously rented at $1,800/month) is move-in ready, perfect for an owner-occupant to live in comfort while your tenants pay the mortgage. The third unit, a charming 1-bed, 1-bath Airbnb/midterm rental, averages $1,500/month, giving you multiple income streams and short-term rental upside. Once fully occupied, enjoy an impressive 10%+ cap rate and nearly 15% cash-on-cash return, a true turnkey opportunity whether you’re adding to your portfolio or diving into your first investment. With modern updates, central air, reliable income, and unbeatable proximity to shops, dining, and nightlife, this property delivers financial freedom and lifestyle flexibility in one rare package. *Note - County auditor website states that there are 4 bedrooms and 2 bathrooms but the owner states that there are 7 bedrooms and 3 bathrooms.

1683 Colonial Drive

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