1683 Colonial Drive, Cleveland, OH 44118
Local realty services provided by:ERA Real Solutions Realty
Listed by: tal tamir
Office: russell real estate services
MLS#:5168272
Source:OH_NORMLS
Price summary
- Price:$345,000
- Price per sq. ft.:$123.26
About this home
Investor’s dream meets house-hacker’s paradise! This fully updated three-unit gem is just minutes from the vibrant Coventry Village, offering both strong returns and endless flexibility. The first-floor unit is a spacious 3-bed, 1-bath leased for $1,500/month, while the freshly vacated second-floor 3-bed, 1-bath (previously rented at $1,800/month) is move-in ready, perfect for an owner-occupant to live in comfort while your tenants pay the mortgage. The third unit, a charming 1-bed, 1-bath Airbnb/midterm rental, averages $1,500/month, giving you multiple income streams and short-term rental upside. Once fully occupied, enjoy an impressive 10%+ cap rate and nearly 15% cash-on-cash return, a true turnkey opportunity whether you’re adding to your portfolio or diving into your first investment. With modern updates, central air, reliable income, and unbeatable proximity to shops, dining, and nightlife, this property delivers financial freedom and lifestyle flexibility in one rare package. *Note - County auditor website states that there are 4 bedrooms and 2 bathrooms but the owner states that there are 7 bedrooms and 3 bathrooms. PROPERTY SOLD AS-IS WHERE IS....
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Home facts
- Year built:1912
- Listing ID #:5168272
- Added:57 day(s) ago
- Updated:April 18, 2026 at 07:16 AM
Rooms and interior
- Bedrooms:7
- Total bathrooms:3
- Full bathrooms:3
- Basement:Yes
- Basement Description:Full
- Living area:2,799 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Forced Air
- Central air:Yes
Structure and exterior
- Roof:Asphalt, Shingle
- Year built:1912
- Building area:2,799 sq. ft.
- Lot area:0.11 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$345,000
- Price per sq. ft.:$123.26
- Tax amount:$9,662 (2024)
Parking
- Parking description:Detached, Garage, Paved
- Garage:Yes
- Garage spaces:2
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