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Commercial Real Estate for Sale at 16224 Arcade Avenue in Cleveland, OH for $325,000

Listing data last changed 03/23/2026 - 7:36pm
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16224 Arcade Avenue | Cleveland

$325,000 | 0.0 Sq. Ft.

Located just steps from the vibrant Waterloo Arts District, this newly updated 5-unit apartment building offers a rare opportunity to own a well positioned asset in one of Cleveland\u2019s most creative and rapidly growing neighborhoods. The property features a diverse unit mix, including one spacious 3 bedroom, two 2 bedroom units, one 1 bedroom, and one studio, appealing to a wide range of tenants and maximizing rental flexibility. Recent updates such as kitchen, baths, floors, vinyl windows and paint enhance both the functionality and appeal of the building, making it an ideal addition to any investor\u2019s portfolio. Recent updates enhance both the functionality and appeal of the building. The Hot water tanks and roof are less then 10 years old. Each unit has its own furnace. Currently fully occupied and bringing in over 40,000 / year with a proforma income over $60,000 annually. Tenants pay gas and electric and taxes in this area are lower, creating more significant income. All tenants are M2M allowing you to capitalize on the proforma income immediately after ownership. Tenants will enjoy multiple parking options with a rare detached 3 car garage, a private driveway, and ample street parking. The location is a major highlight surrounded by some of the city\u2019s most popular dining and cultural destinations, including Doinks Burger Joint, Citizen Pie, and Six Shooter Coffee just to name a few. The area is known for its thriving art and music scene, with galleries, live performances, and community events just seconds away, making this a highly desirable place to live. Whether you\u0027re looking for a stabilized investment or a value add opportunity in a high demand rental corridor, this property delivers location, versatility, and long term upside. NO seller financing. MLSNow 5194571 Directions to property: One block north of Waterloo

MLS Listing ID: 
MLSNow 5194571
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$325,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Cleveland
Address: 
16224 Arcade Avenue, Cleveland, OH 44110
County: 
Cuyahoga
Latitude: 
41.5728910
Longitude: 
-81.5664840
Directions: 
One block north of Waterloo
Public Remarks: 
Located just steps from the vibrant Waterloo Arts District, this newly updated 5-unit apartment building offers a rare opportunity to own a well positioned asset in one of Cleveland\u2019s most creative and rapidly growing neighborhoods. The property features a diverse unit mix, including one spacious 3 bedroom, two 2 bedroom units, one 1 bedroom, and one studio, appealing to a wide range of tenants and maximizing rental flexibility. Recent updates such as kitchen, baths, floors, vinyl windows and paint enhance both the functionality and appeal of the building, making it an ideal addition to any investor\u2019s portfolio. Recent updates enhance both the functionality and appeal of the building. The Hot water tanks and roof are less then 10 years old. Each unit has its own furnace. Currently fully occupied and bringing in over 40,000 / year with a proforma income over $60,000 annually. Tenants pay gas and electric and taxes in this area are lower, creating more significant income. All tenants are M2M allowing you to capitalize on the proforma income immediately after ownership. Tenants will enjoy multiple parking options with a rare detached 3 car garage, a private driveway, and ample street parking. The location is a major highlight surrounded by some of the city\u2019s most popular dining and cultural destinations, including Doinks Burger Joint, Citizen Pie, and Six Shooter Coffee just to name a few. The area is known for its thriving art and music scene, with galleries, live performances, and community events just seconds away, making this a highly desirable place to live. Whether you\u0027re looking for a stabilized investment or a value add opportunity in a high demand rental corridor, this property delivers location, versatility, and long term upside. NO seller financing.
Community Information
School District: 
Cleveland Municipal - 1809
Subdivision: 
Barber \u0026 Lords
Building Details
Details about the building on a property.
Stories: 
2
Year Built: 
1910
Living Area: 
0.0
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
0
Total Full-Bathrooms: 
0
Total Half-Bathrooms: 
0
Total One-Quarter-Bathrooms: 
0
Total Three-Quarter-Bathrooms: 
0
Utilities
Information about utilities available on the property.
Heating System: 
Forced Air
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.18
Lot Size (Area): 
0.18
Lot Features
Total Parking Spaces: 
4
Public Record
Parcel Number: 
113-20-049
Annual Tax: 
$4,200.68
Contract Details
Details about the listing contract.
Possession: 
Negotiable
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
Keller Williams Living

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