1683 Colonial Drive, Cleveland, OH 44118

Local realty services provided by:ERA Real Solutions Realty
1683 Colonial Drive,Cleveland, OH 44118
$345,000
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  • 7 Beds
  • 3 Baths
  • 2,799 sq. ft.
  • Multi-family
  • Pending
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.

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Home facts

  • Year built:1912
  • Listing ID #:5168272
  • Added:1 day(s) ago
  • Updated:February 25, 2026 at 02:40 AM

Rooms and interior

  • Bedrooms:7
  • Total bathrooms:3
  • Full bathrooms:3
  • Living area:2,799 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Forced Air

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)
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