Active
801 Literary Road
Cleveland OH, 44113
$1,450,000
$371.79 per sqft
Active
3,900 sqft
Commercial
Built in 1913
Welcome to your next investment opportunity in the heart of Cleveland's historic Tremont neighborhood! This versatile commercial property presents a unique chance to capitalize on its prime location and potential for multiple income streams. Currently configured as a single apartment and a bustling hair salon, this property offers the flexibility to be transformed into three living units, each with its own separate HVAC systems already in place. The ground floor houses the salon, equipped with six styling stations, a bathroom, and a kitchen/break area. With minimal renovation, the back of the salon could easily be converted into a standalone unit featuring a bedroom, kitchen, full bathroom, and convenient washer/dryer hookups. Ascending to the second floor, you'll find a stylishly updated apartment showcasing a modern industrial aesthetic. The spacious layout includes a stunning kitchen, inviting living room, laundry room, and two bedrooms, complemented by two bathrooms. The crowning jewel awaits on the third floor, boasting a luxurious master bedroom with an en-suite bathroom featuring heated floors. The option to enclose the soffit and establish a distinct unit on this level further enhances the property's allure and value. Enjoy the luxury of three balconies offering picturesque views of downtown Cleveland, providing the perfect backdrop for relaxation and entertainment. Six parking spaces are included, enhancing accessibility for tenants. Currently, the salon commands a rental income of $2,892, while the apartment generates $3,914, with both rents increasing by a steady 3% annually. Whether you're an investor seeking multiple revenue streams or a homeowner looking to offset mortgage costs, this property presents an exceptional opportunity to capitalize on the vibrant Tremont neighborhood's ever-growing demand for residential and commercial spaces. Don't miss out on making this your next successful venture!
5034263
MLSⓇ ID
May 8, 2024
Listed
May 9, 2024
Updated
Map
801 Literary Road
Cleveland OH, 44113
Interior Features
Total Stories
3
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.04 Acres
Sewer
Public Sewer
School Information
School District
Cleveland Municipal - 1809
Other Property Details
Taxes
$13,965
Tax Frequency
Annually
Garage
No
Parking Total
6
View
No
County
Cuyahoga
Municipality
Cleveland
Water Source
Public
Pool
No
Courtesy of Keller Williams Living
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