3614 Euclid Avenue — Sale in Cleveland, OH

  • Price: $900K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Cleveland, OH 44115
  • Size: 110,000 SF
  • Year built: 1964

Description

The property spans approximately 110,000 square feet on 2 acres and is currently undergoing a transformation from a 225-room hotel into 135 modern apartments. There is also potential for retail or café space on-site. Located in a qualified Opportunity Zone (OZ), the property offers a variety of community amenities, including beautiful gardens, an outdoor patio, a dog park, a gym, a community room, and a coworking office. The apartments are designed with stylish and functional features such as vinyl plank flooring, high-efficiency lighting, and hotel-inspired design with mid-range finishes. Units include walk-in showers, with tubs available in the two-bedroom layouts, and are equipped with stainless steel appliances, modern white finishes, and internet and USB outlets throughout. Additional features include electronic door locks, new PTAC systems, and individual hot water heaters, ensuring comfort and convenience for residents.

Market Context

This multifamily in Cleveland, OH is listed for sale at $900,000 across 110,000 SF. The building dates to 1964. It has been on the market for 191 days. Compare it against other multifamily listings for sale in Cleveland, OH — view the full market.

As of Q1 2026, the Cleveland multifamily market showed average asking rents near $1900.00/unit/mo, and cap rates around 8.8%. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

What is the typical cap rate for multifamily in Cleveland?
About 8.8% as of Q1 2026, per multiple brokerage reports.

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