USAOHClevelandFairwdhts3738 W 137Th St
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$339,000

For Sale

6 days ago

3738 W 137Th St, Cleveland, OH

House

MLS® 5202364

6 Bed

4 Bath

8288 sqft

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  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size 8288 sqft
Garage 
Taxes $6,620
Days Active 5
Lot Size 
Approx. Age 1927
Avg. Price Per Sqft $40
MLS® Number 5202364

Property Address: 3738 W 137th St, Cleveland, OH, 44111-4441

Average square foot calculated using Size range provided by listing agent.

Description

ATTENTION VALUE-ADD INVESTORS: 30-YEAR LEGACY PROPERTY WITH MASSIVE UPSIDE! Unlock incredible equity in this rock-solid, all-brick 4-plex located in a high-demand rental pocket of Cleveland. Held by the same owner for over 30 years, this property is the definition of a "diamond in the rough." While the building requires some TLC and shows deferred maintenance (condition is slightly below average), the structural integrity of this all-brick 1927 build is a major selling point that is hard to find in today's market. WHY THIS IS THE DEAL OF THE YEAR: * Massive Rent Spread: Rents are currently significantly below market value. With professional management and cosmetic updates, there is a clear path to double the current NOI. * Solid Infrastructure: A "forever" building with 2) 2-bed/1-bath and 2) 1-bed/1-bath units. It features separate gas/electric meters, newer water tanks, and a sturdy brick exterior. * In-Demand Amenities: Includes 2 off-street parking spaces and basement washer/dryer hookups—essential features that drive 0% vacancy. * Priced for the Spread: Strategically priced to account for maintenance needs, allowing the next owner to capture the appreciation gap as the property is brought to "Market Gold" standard. * Financials: Currently performing at a 6.3% Cap Rate even with below-market rents. Projections show a total equity accumulation of over $117k within Year 1 following stabilization. Bring your contractor and your vision—this is a "set it and forget it" asset once the initial work is done. Priced to Sell AS-IS no retrade. Can show 1 vacant unit - Don't miss this one!
MLS® Number5202364
Laundry LevelLower
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1927
BasementFull
DrivewayOff Street
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 20, 2026List Date
$339,000List Price
  • Commute

Commute

Starting Address
Destination Address
3738 W 137Th St, Cleveland, OH

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