2630 Mayfield RD, Cleveland Heights, OH 44106
2630 Mayfield RD, Cleveland Heights, OH 44106
2630 Mayfield RD, Cleveland Heights, OH 44106
40
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$499,900
Est. payment /mo
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7 Beds
4 Baths
5,533 SqFt
New

2630 Mayfield RD Cleveland Heights, OH 44106

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Tony Parra

Tony Parra

+1(440) 491-4362

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Key Details

Property Type Single Family Home

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 5,533 sqft

Price per Sqft $90

Subdivision Euclid Heights

MLS Listing ID 5237582

Bedrooms 7

Full Baths 4

HOA Y/N No

Abv Grd Liv Area 5,533

Total Fin. Sqft 5533

Year Built 1927

Annual Tax Amount $11,210

Tax Year 2025

Lot Size 7,000 Sqft

Acres 0.1607

Property Sub-Type Quadruplex

Property Description

Add this income-producing quadraplex in the highly desirable Coventry neighborhood to your portfolio. This renovated four-unit property offers four massive apartments, each nearly 1,400 square feet, with spacious, thoughtfully designed layouts featuring beautiful hardwood floors, gorgeous built-ins, updated kitchens, in-unit laundry, vinyl windows, and central heat and air conditioning. Each unit offers an exceptional floor plan with a large living room, sunroom, dining room, spacious bedrooms, and a generously sized kitchen. The property has a massive full basement housing the mechanicals, abundant storage, and individual storage lockers for each tenant. Everything is separately metered, and a five-car garage provides an additional amenity that is highly desirable to renters. The location is difficult to beat, just a short walk from the heart of Coventry and convenient to public transportation, restaurants, shops, and entertainment. Based on current revenue, projected operating expenses—including property taxes, insurance, landlord-paid water and sewer, a repair/maintenance reserve, and light property management—are approximately 35% of gross income, resulting in a strong 8.2% cap rate at the current asking price. The current rents are also below market, creating meaningful upside; bringing rents to market levels could increase the projected cap rate to approximately 9.4% or higher. The property is intentionally priced below its potential market value due to outstanding violations that the buyer will need to assume, including the likely need for a new roof. Quotes and additional information regarding the required work are available upon request. Renovated units, large floor plans, strong current cash flow, significant rental upside, and an exceptional Coventry location make this a rare investment opportunity. Quadraplexes of this size and quality in a location this desirable rarely come to market. Add this income-producing asset to your portfolio before it's gone.

Location

State OH

County Cuyahoga

Rooms

Basement Full, Storage Space

Interior

Interior Features Built-in Features, Ceiling Fan(s)

Heating Forced Air

Cooling Central Air

Fireplace No

Window Features Double Pane Windows

Appliance Dryer, Dishwasher, Microwave, Range, Refrigerator, Washer

Laundry In Unit

Exterior

Parking Features Detached, Garage

Garage Spaces 5.0

Garage Description 5.0

Water Access Desc Public

Roof Type Flat

Garage true

Private Pool No

Building

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

Schools

School District Cleveland Hts-Univer - 1810

Others

Tax ID 685-09-011

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, VA Loan

Listing Terms Cash, Conventional, 1031 Exchange, FHA, VA Loan

Special Listing Condition Standard

VOW - Northern Ohio Regional MLS (YES-MLS) /MLS Now
Listed by David Jackson • Howard Hanna • davidjackson@howardhanna.com, 216-548-9207

NEARBY SCHOOL & BUSINESS

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Tony Parra

Tony Parra

Agent | License ID: 2015001967

+1(440) 491-4362

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2630 Mayfield RD