Introducing an exceptional value-add opportunity in Cleveland’s emerging E. 89th Street corridor. Walking distance to 2 of Cleveland’s Premier Hospitals and University Circle Area. Solid brick, eight-unit building (14,540 sq ft) sits on a double lot and comes fully permit-ready for an approved 16-unit expansion—plans crafted by LDA Architects and variances already in hand.
Why Investors Are Taking Notice:
Shovel-Ready Upside: City-approved architectural drawings and zoning variances mean you can break ground almost immediately.
Strong Cash-Flow Potential: The stabilized 16-unit project carries a recent appraisal near $3.6 million.
Attractive Incentives: Low-interest city loans, extended state historic credits and anticipated federal credits, plus a 15-year tax abatement, all bolster your return.
Land Assembly: Includes the neighboring parcel, with the option to secure a third lot for additional parking.
Prime Location: Convenient to downtown Cleveland, major highways, and growing retail corridors—ideal for attracting long-term tenants.
Don’t miss this rare turnkey development play. Detailed financials, full plans, and incentive summaries available upon request. Serious inquiries only—schedule your site tour today.