3408 Desota Ave, Cleveland Heights, OH 44118

Attention investors—this triplex offers exceptional upside for both seasoned investors and first-time buyers looking to break into real estate investing. With two of the three units already occupied, this is an ideal owner-occupant opportunity: live in the vacant first-floor unit while rental income helps offset your mortgage. At market rents of approximately $1,300 per unit on the first and second floors, the property has the potential to generate roughly $39,000 in annual gross income, with an estimated cap rate above 12% after factoring in expenses. Owned and meticulously maintained by the same local landlord since 1986, the property will transfer point-of-sale compliant, providing peace of mind for the next owner. While well cared for, there is still clear value-add potential through cosmetic updates, offering the opportunity to further increase rents and maximize returns. The property is also CMHA-approved, with the second-floor tenant’s rent currently subsidized through CMHA. Notably, the landlord has not pursued a rent increase with CMHA in quite some time, leaving significant additional income potential on the table. Schedule your showing today to tour the first-floor layout, explore the neighborhood, and see firsthand the income-producing potential this investment property has to offer.