Commercial Real Estate for Sale at 4237 Rocky River Drive in Cleveland, OH for $1,099,000

Listing data updated May 15, 2025 - 1:34pm
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4237 Rocky River Drive | Cleveland

$1,099,000 | 0.0 Sq. Ft.

Investment Opportunity in Prime Kamm\u2019s Corner Location! \r\nCome SEE this all brick 2 story - 15) unit property which consists of 8) large 2 - Bedrooms / 1 Baths units and 7) 1- Bedrooms / 1 Baths units. This asset offers a rare opportunity in a highly sought-after westside location near public transportation, major highways, and job hubs such as Cleveland Hopkins International Airport and Cleveland Clinics Fairview Hospital. \r\nMost units have been updated - featuring refinished hardwood floors in living spaces, new LVP flooring in kitchens and tiled bathroom floors and surrounds, added LED lighting in several units along w/ upgraded breaker panels. \r\nSeveral units are achieving market rents of $850 per 1) Bed \u0026 $975 per 2) Beds these are strong rents for area. \r\n\r\nUPDATES: \r\nNewer shingled roof (full tear-off) and added insulation 5/2022, roughly 10 units have had full renovations, and the balance of the units have been nicely updated.\r\nMechanicals: Boiler was rebuilt in 2023, along with about 65% cast iron feed \u0026 return lines, Boiler Tech Added: Weil McLein low water shut-off, auto water feeder, Tekmar Boiler Smart Control with int. / ext. sensors for water/gas efficiencies. \r\n\r\nCosmetics \u0026 Interior Common: 2023 main entry vestibules, hallway flooring 2x 2 carpeted tile, low consumption water fixtures. \r\nExterior Grounds: Sealed and striped parking lot in 2022 as well as two sewer stacks replaced from basement to attic. \r\n\r\nProperty offers private off-street parking at 1:1 for tenants. \r\nIncome Opp: (20) storage units ($10 ea. x $20 or $2,400 annual) \u0026 laundry for added income estimated at $1,300 annually. \r\nInvestor can add value by with soft rentals increases on longer-term tenants. \r\n\r\nThis property is well-positioned for long-term success w/ projected proforma income of $ 168,580\r\nDon\u2019t miss this opportunity for a solid, passive investment in Cleveland\u2019s vibrant Kamm\u2019s Corner neighborhood.\r\n\r\nAsk to see the \u201CActual and Proformas\u201D financials for this asset. MLSNow 5083766

Directions to property: South of Kamms Corner (Lorain Ave) on Rocky River Drive on east side of street toward airport. Parking available at rear.

MLS Listing ID: 
MLSNow 5083766
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$1,099,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Property Sub Type: 
Apartment
Primary Market Area: 
Cleveland
Address: 
4237 Rocky River Drive, Cleveland, OH 44135
County: 
Cuyahoga
Latitude: 
41.4395570
Longitude: 
-81.8194510
Directions: 
South of Kamms Corner (Lorain Ave) on Rocky River Drive on east side of street toward airport. Parking available at rear.
Public Remarks: 
Investment Opportunity in Prime Kamm\u2019s Corner Location! \r\nCome SEE this all brick 2 story - 15) unit property which consists of 8) large 2 - Bedrooms / 1 Baths units and 7) 1- Bedrooms / 1 Baths units. This asset offers a rare opportunity in a highly sought-after westside location near public transportation, major highways, and job hubs such as Cleveland Hopkins International Airport and Cleveland Clinics Fairview Hospital. \r\nMost units have been updated - featuring refinished hardwood floors in living spaces, new LVP flooring in kitchens and tiled bathroom floors and surrounds, added LED lighting in several units along w/ upgraded breaker panels. \r\nSeveral units are achieving market rents of $850 per 1) Bed \u0026 $975 per 2) Beds these are strong rents for area. \r\n\r\nUPDATES: \r\nNewer shingled roof (full tear-off) and added insulation 5/2022, roughly 10 units have had full renovations, and the balance of the units have been nicely updated.\r\nMechanicals: Boiler was rebuilt in 2023, along with about 65% cast iron feed \u0026 return lines, Boiler Tech Added: Weil McLein low water shut-off, auto water feeder, Tekmar Boiler Smart Control with int. / ext. sensors for water/gas efficiencies. \r\n\r\nCosmetics \u0026 Interior Common: 2023 main entry vestibules, hallway flooring 2x 2 carpeted tile, low consumption water fixtures. \r\nExterior Grounds: Sealed and striped parking lot in 2022 as well as two sewer stacks replaced from basement to attic. \r\n\r\nProperty offers private off-street parking at 1:1 for tenants. \r\nIncome Opp: (20) storage units ($10 ea. x $20 or $2,400 annual) \u0026 laundry for added income estimated at $1,300 annually. \r\nInvestor can add value by with soft rentals increases on longer-term tenants. \r\n\r\nThis property is well-positioned for long-term success w/ projected proforma income of $ 168,580\r\nDon\u2019t miss this opportunity for a solid, passive investment in Cleveland\u2019s vibrant Kamm\u2019s Corner neighborhood.\r\n\r\nAsk to see the \u201CActual and Proformas\u201D financials for this asset.
Community Information
School District: 
Cleveland Municipal - 1809
Subdivision: 
Rockport Homes
Building Details
Details about the building on a property.
Stories: 
2
Year Built: 
1948
Living Area: 
0.0
Basement: 
Apartment,Full,Concrete,Partially Finished,Walk-Up Access,Walk-Out Access
Construction
Foundation Details: 
Basement,Block
Roof: 
Asphalt,Fiberglass,Pitched
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: 
Hot Water,Steam
Water Source: 
Public
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.6
Lot Size (Area): 
0.6
Lot Features
Parking Type: 
Additional Parking,Asphalt,On Site,Paved,Parking Lot,Private
Total Parking Spaces: 
15
Fence: 
Wood
Public Record
Parcel Number: 
027-09-003
Annual Tax: 
$24,729.60
Contract Details
Details about the listing contract.
Possession: 
Delivery Of Deed
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Agent Name: 
James P Matheos
Listing Co-Agent Name: 
Debbie S Matheos
Listing Office Name: 
Keller Williams Citywide
Listing Co-Office Name: 
Keller Williams Citywide

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