1624 E 82nd Street, Cleveland, OH 44103

Property Description

“Opportunity awaits at this massive 4-unit property located just minutes from University Circle! Offering over 7,000 square feet of space, this building has already undergone extensive renovations and is ready for the next owner to bring the project across the finish line. Major improvements include updates to the roof, electrical, plumbing, windows, and HVAC, taking care of many of the costly components of a renovation. Full sealed architectural plans, including applicable engineering drawings for the mechanical systems, have already undergone City of Cleveland review and approval, with permits pulled—eliminating much of the upfront planning, engineering, permitting, and major infrastructure work typically associated with a renovation of this scale. With much of the major utility and mechanical infrastructure is also already in place: electrical, gas, and water meters have been installed; rough-ins have passed City inspection; hot and cold water are on; laundry sinks are installed; and the property includes four brand-new electric water heaters and four brand-new high-efficiency furnaces, the property is positioned for the next owner to focus on finishes and bring the renovation across the finish line. With the interior already opened up and much of the groundwork already in place; simply bring your contractor and vision to complete the remaining work. With four units, substantial square footage, and a convenient location near University Circle, Case Western Reserve University, Cleveland Clinic, University Hospitals, and all that the surrounding area has to offer, this property presents an excellent opportunity for an investor looking to complete a value-add multifamily project.