2103 St Clair Avenue NE,Cleveland, OH 44114
Cleveland, OH 44114
Description
OPPORTUNITY OVERVIEW Rare opportunity to acquire a character-rich, two-story brick building on Cleveland's St. Clair Avenue NE corridor - a near east side commercial and residential strip with proven short-term rental demand and active adaptive reuse momentum. The seller previously operated the building as a short-term rental generating approximately $4,000/month in gross Airbnb revenue, demonstrating real lodging demand on this corridor. One unit is currently rent-ready for immediate occupancy or STR re-activation; three units are in value-add condition, offering a buyer the opportunity to build equity through targeted finish work. With 6,002 SF across two floors plus a partial basement, this asset supports multiple exit strategies: continue as a short-term rental operation, convert to 4-6 long-term residential units, or reposition as a mixed-use ground-floor commercial / upper-floor residential property. INVESTMENT HIGHLIGHTS Proven STR demand - seller-reported ~$4,000/month gross Airbnb income prior to vacancy 1 rent-ready unit at closing - immediate partial income path, reduces day-one carry 3 value-add units - finish work creates equity upside priced into ask Multifamily conversion candidate - 6,002 SF supports 4-6 residential units Brick construction - durable asset with character that commands a premium on the rental market Walk Score 83 - walkable corridor with restaurants, retail, and transit within steps Strong renter demographics - median age 29, 74.8% renter-occupied within 1 mile No major structural issues - cosmetic and finish deferred maintenance only Flexible use positioning - STR continuation, long-term residential, or mixed-use
Details
| MLS # | 5225028 |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 93 |
| Listing Provided By | Russell Real Estate Services | Michael Pasadyn |
Features
| Acreage | 0.09 |
|---|
Taxes
| Tax Annual Amount | 4600 |
|---|
Area Information
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Cleveland |
| Zip Code | 44114 |
| Community Name | City/Cleveland |
| Listing VS Median (in City/Cleveland) | |
Price: $230,000 low | high Med: $91,400 On site: 93 low | high Med: 78 | |
Market Activity 44114
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Learn More About This Property
| State | OH |
|---|---|
| County | Cuyahoga |
| City | Cleveland |
| Zip Code | 44114 |
| Community Name | City/Cleveland |
| Listing VS Median (in City/Cleveland) | |
Price: $230,000 low | high Med: $91,400 On site: 93 low | high Med: 78 | |