UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,951 sqft
Price per Sqft $25
Subdivision As Thompsons Sub
MLS Listing ID 5183665
Style Colonial
Bedrooms 7
Full Baths 2
HOA Y/N No
Abv Grd Liv Area 2,951
Total Fin. Sqft 2951
Year Built 1901
Annual Tax Amount $1,797
Tax Year 2024
Lot Size 7,683 Sqft
Acres 0.1764
Property Sub-Type Single Family Residence
Property Description
1775 Wheeler Ave, East Cleveland, OH 44112 presents a rare opportunity for the savvy investor seeking immediate income with strong value-add potential. This expansive single-family residence offers over 2,900 square feet, 7 bedrooms, 2 full bathrooms, and a 2.5-car garage, currently operated as a room-rental property and fully occupied, generating a little under $3,000 per month in gross rental income with 5/7 rooms rented.
The property is rental-ready today, providing instant cash flow from day one. For investors with a renovation vision, the after-repair value is estimated at $246,000, creating a compelling upside play in a rapidly evolving market.
Strategically located just five minutes from the $60M Circle East Development Project, this asset benefits from proximity to one of the area's most significant revitalization initiatives, positioning it well for future appreciation and tenant demand.
Additional highlights include:
• Existing property manager willing to remain in place, ensuring a seamless transition
• Ideal for investors seeking hands-off management
• Pending POS inspection
Opportunities like this—cash-flowing, value-add, and positioned near major redevelopment—are increasingly difficult to find. Whether you're expanding your portfolio or securing a high-yield asset in a growth corridor, this property demands immediate consideration.
Serious investors only. Properties with income, scale, and future upside do not last.
Location
State OH
County Cuyahoga
Rooms
Basement Unfinished
Main Level Bedrooms 2
Interior
Heating Forced Air, Gas
Cooling None
Fireplace No
Laundry In Basement
Exterior
Parking Features Detached, Garage
Garage Spaces 2.0
Garage Description 2.0
Water Access Desc Public
Roof Type Slate
Porch Deck, Front Porch, Porch
Garage true
Private Pool No
Building
Entry Level Three Or More
Sewer Public Sewer
Water Public
Architectural Style Colonial
Level or Stories Three Or More
Schools
School District East Cleveland Csd - 1812
Others
Tax ID 672-10-050
Nearby Locations
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